Quercus Assets Selection has secured €150m as part of a drive to raise cash for European renewables investments.
The company launched three funds in early 2016 with the aim of raising a combined €500m by December 2018.
The three funds are targeting an annual dividend yield of 6%, distributed semi-annually and an internal rate of return above 11%.
Cash will be invested in Italian solar and wind assets as well as wider European renewables technologies.
Quercus co-founder and chief executive Diego Biasi said: “We are aiming to be one of the largest European investors in renewable energy within five years, which we will do by collaborating with the top financial and industrial partners across Europe.”
Image: Morgue File
