TlB Annual Report 2009 - Triodos Bank

uting to the avoidance of over 800,000 tonnes
of CO2 emissions per year. Of these projects,
164 are wind power projects, 82 solar photovoltaic,
14 biomass and 18 small hydro projects.
TRIODOS GROENFONDS (THE NETHERLANDS)
Triodos Groenfonds is the largest Triodos
investment fund for Dutch private investors
and the first green investment fund in The
Netherlands. The investors in the fund benefit
from the Dutch tax scheme for green investment.
The fund finances projects in renewable energy,
organic farming and nature conservation.
Approximately half of the portfolio relates to
finance for renewables, most of which are wind
power projects. The fund also invests in energy
from biomass. The majority of the other half is
finance for organic farming and sustain able
real estate sectors.
There are 85 energy projects in the portfolio,
with a green power generation capacity of
approximately 400 mw, contributing to a CO2
reduction of approximately 375,000 tonnes per
year. At the end of 2009, 75% of the fund’s
assets were invested in green certified projects.
The fund aims to increase its impact. In particular
it intends to finance new projects in
organic farming and innovative projects with
technologies that contribute to diversification
in renewable energy and to increased energy
efficiency. In 2009, the fund showed a 23%
increase to eur 572 million, and delivered a
return of 2.8% (excluding a tax benefit of up to
2.5% for green investment by private investors).
And the Triodos Groenfonds’ work was recognised
more widely, winning the Dutch
fd Morning Star award 2009.
TRIODOS SICAV II-TRIODOS RENEWABLES
EUROPE FUND (EUROPE)
Triodos Sicav ii - Triodos Renewables Europe
Fund, with its registered office in Luxembourg,
was launched in 2006 to create an opportunity to
invest in renewable energy projects throughout
Europe. Private and professional investors
participate in the fund which invests in unlisted
small and medium-sized renewable energy
power producers. It offers complementary risk
capital by means of equity or subordinated
loans, supporting developers to realise their
plans to complete the total financing of their
projects. The fund is an active investor in European
privately owned wind, solar and biomass
power plants, and draws on Triodos Bank’s
30 years of experience in the sector. The fund is
open-ended and has a long-term investment
horizon. In 2009, the fund grew to eur 32 million,
invested in five countries and delivered an
annualised return of 4.6%. The fund has 15 projects
in its portfolio with a green power generation
capacity of approximately 120 mw reducing
approximately 125,000 tonnes of CO2 per year
that otherwise would contribute to climate
change.
TRIODOS RENEWABLES PLC (UK)
Triodos Renewables was launched in 1994 (the
company was set up in 1994 and the first share
issue was launched in 1995) to offer uk private
individuals and professional investors the
opportunity to directly invest in renewable
energy assets, mainly in the uk. In 2009, the
company launched its fifth share issue and
increased its capital base to gbp 26 million.
The company invests primarily in wind farms
but also owns shares in a tidal energy technology
company and a waste heat distribution
network. The company also acts as a project
developer. By the end of 2009, the company
had invested in six projects and delivered an
annualised return of 7.2%. The projects together
have a generating capacity of 33 MW,
saving approximately 35,000 tonnes of CO2
emissions every year.
AMPERE EQUITY FUND (EUROPE)
Ampere Equity Fund was launched at the end of
2007. Its shareholders are institutional investors,
among which are some leading pension funds.
Committed capital amounts to eur 320 million,
a substantial part of which is available for new
investments. The fund mainly invests with equity
in the larger wind and solar power projects in
Western Europe. It works as a co-shareholder
with reputable European project developers
and also takes full ownership of power plants.
The fund has made five investments in the
Benelux, Germany and Spain, with a joint green
power generating capacity of 75 MW, avoiding
CO2 emissions of approximately 90,000 tonnes
per year.
TRIODOS RENEWABLE ENERGY FOR
DEVELOPMENT FUND (DEVELOPING
COUNTRIES)
Stichting Triodos Renewable Energy for Development
Fund finances regional financial
intermediaries that provide funding to businesses
and projects focused on renewable energy
44 TRIODOS BANK - ANNUAL REPORT 2009