Cornerstone investor announced for cogeneration fund aimed at central Europe

The Exergy Efficient Energy Fund (“E3F”), the new €350m energy infrastructure fund being raised by EnerCap Capital Partners has signed a Letter of Intent with Polskie Inwestycje Rozwojowe S.A. (PIR S.A.) as the cornerstone investor.

The Exergy fund is a 10-year closed end private equity fund which will focus on investments in primarily new and existing high efficiency cogeneration projects in Central Europe. In particular, the Fund is targeting to deploy 50% of its capital on project opportunities in Poland.
 EnerCap Capital Partner
PIR was established under the Polish Investments Programme in 2013 with the objective providing funding to viable long-term infrastructure projects in Poland.

Mariusz Grendowicz, CEO of PIR, said, “Our investment of €40m into E3F will see up to €175m of new investment into replacing or upgrading key Polish energy infrastructure which is vital for future growth.”

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