EU-Backed Clean Energy Fund Invests In $2B Wind Farm

Law360, New York (December 22, 2011, 6:29 PM EST) -- A European investment fund meant to help the region meet its looming renewable energy targets has acquired a minority stake in a €1.3 billion ($1.7 billion) offshore wind farm under construction off the coast of Belgium, it announced Thursday.

The Marguerite Fund, steered by Marguerite Adviser SA, bought a 9.1 percent stake in the Thornton Bank project from EDF Energies Nouvelles, a French renewable energy company that is half-owned by utility giant Electricite de France SA. EDF Energies retains a 9.1 percent stake.

Financial terms were...
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