Evli Bank Nordic Shine create Finland’s 1st solar investment fund
Dec 8, 2016 16:29 CET
December 8 – Evli Bank Plc announced today the creation of Finland’s first solar power investment fund with Nordic Shine Ltd, a local solar company in which a unit of the Finnish bank has just bought a majority stake.
The goal of the new fund, called EAI SOLAR I Limited Partnership, is to multiply solar power production in the country. It allows property owners and tenants to invest in solar power generation without tying up own resources or capital and, at the same time, provides investors with stable return potential based on long-term cash flows.
Nearly 80 investors have taken part in the first closing of the fund, including the City of Espoo. Finnish real estate manager Ovenia Group will offer the fund’s financing and service model to its clients, Evli said.
Nordic Shine’s founders will continue as key persons and shareholders in the firm following the acquisition of a majority stake by Evli Alternative Investments, the bank noted.
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