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RBC Capital Markets supports renewable energy fund
April 27, 2006 — RBC Capital Markets provided
advice on the launch of a unique, £150 million ($267
million) fund that will invest in renewable energy projects
in the Republic of Ireland and Northern Ireland.
The Irish Renewable and Sustainable Energy Fund will invest
in public-private projects to generate energy from diverse
sources, such as energy from waste, recycling, biomass, biofuels,
geothermal and wind.
The fund is a joint venture between Northern Ireland Energy
Holdings (NIEH), the not-for-profit company that owns the
electricity and gas connections between the province and the
UK mainland, and Northern Renewables, a Belfast-based renewable
energy project developer.
RBC Capital Markets will lead the fund-raising and provide
advisory services. NIEH has already committed an initial £10
million to the fund, and further institutional and private
investment will be sought. The fund is currently evaluating
a biofuels plant in Northern Ireland, wind power projects,
and partnerships with local authorities to develop waste-to-energy
projects.
RBC Capital Markets recognizes the opportunity in alternative
energy resources, and currently finances 26 wind farms in
North America, U.K., France and the Republic of Ireland. In
2005, RBC Capital Markets also acted as financial advisor
to a number of significant green energy business transactions
that will generate more than 1 gigawatt (GW) worth of power
in Europe. These include a wind development business in the
U.K., a renewable energy company with an international portfolio
of wind assets, and a landfill gas generation business.
RBC Financial Group (RBC) takes a leading role in promoting
environmentally sustainable business practices, in both its
lending and its own business operations. In 2005, RBC was
among 60 companies worldwide to be recognized by the Carbon
Disclosure Project as leaders in understanding and addressing
climate change issues. RBC was also named to the Global 100
Most Sustainable Corporations in the World ranking, the Dow
Jones Sustainability Index, the Jantzi Social Index, and the
FTSE4Good Index, recognizing the world's financial, social
and environmental leaders. RBC was the first Canadian signatory
to the Equator Principles in 2003 and has had a formal Environmental
Policy in place since 1992.
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