News

August 14, 2008

Leaf Clean Energy Is Building A Portfolio Of Clean Energy Assets In The US

By Rue Swabey

In June 2007 Leaf Clean Energy was admitted to Aim. In the process it raised £200 million to invest in clean energy assets in the US. To date, the fund’s advisers Energy & Climate Advisors, a joint venture between EEA Group and Shaw Capital, have invested US$76.5 million. The fund is building a diverse portfolio of assets with, and at no time is it intended that any single company will account for more than 25 per cent of gross assets. Leaf will typically target majority or controlling positions in development or operating assets, but will also consider taking minority stakes where appropriate. The board expects the fund to be by and large fully invested by December 2008.

The association with Shaw Capital, a US engineering, procurement and construction firm, has been very positive as it has allowed Leaf to evaluate many opportunities before they have been exposed to a wider public audience. Ricardo Nogueira, investment advisor at EEA North America has been surprised both by the volume of deal flow and by the quality of the projects. The advisers have looked at more than 100 opportunities, have closed on four deals, and expect to complete on several in the near...