Plenus Fund invests in Polish wind farm co

This is the fund's first investment in cleantech.

Sources inform "Globes" that Plenus Venture Lending Fund has made its first investment in cleantech after putting $2 million funding at the disposal of CERAC - Central European Renewable Acquisition Corp., which focuses on wind farm infrastructure in Poland.

Plenus is a cluster of lending funds managing $320 million in assets and providing credit to technological companies and mature companies in industry and commerce.

Plenus general partner and co-founder Moti Weiss confirmed the investment. He said, "It is Plenus's intention to examine other investments in this field in the future in Israel and in other countries. The quantity of wind farms supplying electricity in Europe and the rest of the world has grown at a rapid rate in recent years, and there are great opportunities."

CERAC is a partner of a European private equity fund trying to jointly purchase the rights to build and operate a wind farm in the Pomeranian region of Poland. The project is worth €35 million, and two leading European banks have provided other financing.

To date, Plenus has provided credit instruments worth over $450 million in 80 deals. Its portfolio companies include cVydia, Wisair and BroadLight.

Published by Globes [online], Israel business news - - on June 23, 2011

© Copyright of Globes Publisher Itonut (1983) Ltd. 2011

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