Energy and climate

In energy and climate, Triodos Invesment Management was responsible for a reduction of over 1,500,000 tonnes of CO2 and realised the supply of sustainable energy sources of 1.264 MW. (impact statistic)

Triodos Investment Management has over 25 years of experience in investing in renewable energy. This makes Triodos Investment Management a preferred partner for many investors and renewable energy entrepreneurs.

The total Triodos Investment Management renewable energy equity and loan portfolio in Europe consist of over 118 projects, with a total green power generation capacity of approximately 1.264 MW. Together this contributes to the avoidance of over 1.500.000 tonnes of CO2 emissions per year.

Of these projects, 69 are wind power projects, 31 solar photovoltaic, 13 biomass, 4 heat/cold storage projects and 1 small hydro project.

Triodos Groenfonds (The Netherlands)

Triodos Groenfonds finances renewable energy, organic farming, sustainable real estate and nature conservation projects.

Investors in the fund benefit from a Dutch tax scheme for green investment.

Approximately half of the portfolio is in renewables, most of which are wind power projects.

It also increasingly invests in other types of renewable energy such as solar, waste-stream biomass, and thermal storage. The majority of the other half is in organic farming, sustainable real estate and nature conservation sectors.

There are 64 energy projects in the portfolio, with a green power generation capacity of approximately 392 MW, contributing to a CO2 reduction of approximately 379.083 tonnes per year. At the end of 2011, 71.6% of the fund’s assets were invested in green certified projects.

In 2011, the fund’s total net assets decreased by 11.7% to EUR 492.5 million, delivering a return of 2.6% (excluding a tax benefit of up to 2.2% for green investment by private investors). The decrease in assets can be largely attributed to the changes in the Dutch green tax scheme that were first implemented in late 2010.

Triodos Sicav II-Triodos Renewables Europe Fund (Europe)

Triodos Sicav II-Triodos Renewables Europe Fund, registered in Luxembourg, was launched in 2006 to create an opportunity to invest in renewable energy projects throughout Europe. Private and professional investors participate in the fund.

The fund offers complementary risk capital through equity or subordinated loans, supporting developers wanting complete finance for their projects. It is an active investor in European privately owned wind, solar and biomass power plants. The fund is open-ended and has a long-term investment horizon.

In 2011, the total net asssets increased to EUR 49.8 million. The fund invested in six countries and delivered an annualised return of 7.9%. It has 38 projects in its portfolio with a green power generation capacity of approximately 196 MW avoiding approximately 151.340 tonnes of CO2 per year.

Triodos Renewables Plc (UK)

Triodos Renewables plc invests in, owns and operates sustainable energy projects in the UK on behalf of private and institutional shareholders.

In 2011 Triodos Renewables Plc undertook a new share issue, resulting in an increase of funds under management of 30% to a total volume of GBP 28 million.

Triodos Renewables Plc now has the most investors of any UK renewable energy company.

In 2011, the portfolio of operational projects grew 16% from 32.62 MW to 38.2 MW. On completion of the projects initiated in 2011, Triodos Renewables’ portfolio will have a total renewable electricity generation capacity of 43.2 MW, equivalent to the energy required to power 26,250 homes.

Ampere Equity Fund (Europe)

Ampere Equity Fund was launched in 2007. Its shareholders are leading Dutch institutional investors.

The fund invests with equity in larger renewable energy projects in Western Europe, either as a co-shareholder with reputable European project developers, or with full ownership of renewable energy projects.

By the end of 2011, the investment period ended and the Fund is closed for new transactions. The fund, with EUR 320 million committed capital from its investors, is nearly fully invested and part of the remaining commitment has been earmarked for follow-on investments.

With 16 investments in large scale solar PV, offshore and onshore wind , the Fund is well diversified both in terms of technologies and countries, with investments in Germany, Spain, UK, France, Netherlands an Italy. The joint green power generating capacity is 763 MW, avoiding CO2 emissions of approximately 1.032.683 tonnes per year.

Triodos Renewable Energy for Development Fund (Developing countries)

Stichting Triodos Renewable Energy for Development Fund finances regional financial intermediaries that provide funding to businesses and projects focused on small scale renewable energy roll-out in developing countries.

The fund is fully invested and is not making any new investments.

Energy and Climate Investment Funds Prospects for 2012

2011 was a challenging year for Triodos Groenfonds and Triodos Renewables Europe Fund, mostly due to changes in government policies in Europe. Nevertheless, Triodos Investment Management believes that renewable energy and energy saving has a great potential.

In 2012 we will continue to adjust the portfolio of Triodos Groenfonds to meet our return-on-investment goals. As such Triodos Groenfonds should remain an attractive investment vehicle aimed at building a greener Dutch economy. Nevertheless the effects of the tax-changes in the Netherlands will continue to impact the assets entrusted to the fund, likely makin the fund’s volume remain the same in 2012 as in 2011.

Triodos Renewables Europe Fund has used 2011 to build a strong and well diversified portfolio that is performing as expected, and should therefore attract new investments that will help it grow to EUR 60 million.

As the investment period for Ampere Equity Fund closed in October 2011, the fund will no longer seek new transactions.

In 2012 Triodos Investment Management aims to launch a new fund to bring together the expertise built up in Emerging Markets and in Energy and Climate, targeted at institutional investors seeking investment opportunities in renewable energy in emerging markets.