(PRWEB) June 24, 2015
Palmetto is in the process of launching a solar investment fund, which will acquire operational solar assets developed by our Company and our channel partners.
The Funds, collectively marketed as Palmetto Solar Invest, are targeting competitive cash yields, either in the form of dividend or fixed coupon interest. Assets Under Management (”AUM”) are expected to be at least $50 million at launch growing to around $500 million by year end 2016.
Management of the funds is under the leadership of Per Regnarsson, Palmetto’s Chief Investment Officer, who has an extensive track record in the clean energy sector. He has more than fifteen years of experience in the energy and infrastructure investment and financing space, having overseen the development, financing and management of more than 200MW of renewable energy asset in Europe and North America. Per has formed his experience at firms such as Moody’s, JP Morgan, Danske Bank and Merrill Lynch, and holds a MSc Sloan Fellowship from London Business School. The Funds have a separate and distinct investment committee and is currently appointing its Board - Christopher Kemper, the CEO, and Per Regnarsson are to serve on the Board of the Fund Management Company.
The fund shall focus on mid-market opportunities among ground mount utility, commercial and residential solar market segments. The investment vehicle is intended to offer institutional investors an opportunity to participate in cashflows generated mainly from residential and commercial rooftop solar installations.
The “captive” role of the Fund for Palmetto’s development activities will support the establishment of long-term customer relationships and commitment of Palmetto, while enabling Palmetto and its partners to accelerate growth through scalable ‘take-out’ capital solutions. More information is available by contacting Investment Relations at IR(at)Palmetto(dot)com.