October 3 (Solar) – Quercus Assets Selection Sarl, the European renewables-focused fund, has agreed with Australian financial group RF Capital to set up a 50/50 joint venture (JV) that will initially invest in wind and solar assets.
At the start of the week, the Quercus Group said RF Capital will provide to the JV EUR 400 million (USD 462.5m) over the coming four years. Quercus, meanwhile, will act as industrial partner, being mainly in charge of the green energy infrastructure investment and asset management.
The JV agreement has been concluded this summer. A first informal meeting of the investment committee has recently taken place in London.
Last week, at the Annual General Meeting of Quercus, co-founder and CEO Diego Biasi also announced plans for the launch of QEVI — a UK fund targeting electric vehicle (EV) infrastructure. This market is a key part of the fund’s future strategy in the UK and abroad, Biasi commented.