Crédit Agricole Private Equity acquired a stake in Italian green energy producer Elettrostudio Energia.
The investment has been structured by FCPR Capenergie fund, the Crédit Agricole Private Equity’s vehicle, which provided €4.5m, and by FriulAdria, Crédit Agricole’s Italian banking subsidiary, providing €500,000.
Founded in 2005, Elettrostudio Energia, a Elettrostudio Group’s subsidiary, specialises in green energy production using wind, solar, biomass and hydroelectric power. The company aims to have 250 MW in operation by 2013.
The equity financing will support the company to increase the company’s rate of project development and achieve the target installed capacity.