Terra Firma, the private equity group founded by Guy Hands, is seeking to launch a $3bn (£2.6bn) renewable energy fund.
BusinessGreen understands Hands is looking to raise a new fund called the Terra Firma Fund for Global Renewable Energy Infrastructure. The move marks a departure for the company, which has raised three general buyout funds and a residential property fund since 1994.
Details of which technologies the fund will support remain unclear, however it is understood the fund will target investments in the US, France, Italy and the Middle East. According to reports in City AM, the China Development Bank is already contributing to the fund.
Earlier this month it emerged that Terra Firma is seeking to offload Infinis for £1.5bn. The company started as a waste to energy developer before expanding into wind and solar power.
Terra Firma is understood to have hired Deutsche Bank, Barclays, RBC Capital Markets and Climate Change Capital to advise on a range of options that could see it sell Infinis or float the company on the stock market.
