G-FERE executed first closing

Luxemburg, 2. November 2012

The management board of the Luxembourg investment vehicle Growth Fund for Renewable Infrastructure S.A. SICAV-FIS, held the first closing for its sub-fund G-FERE today. Gascom Group, an Italian energy company with EPC operations worldwide, committed €15m in its share subscription. The shares represent 10% of the planned fund volume of €150m.

"Having Gascom as an anchor investor strengthens our profile in construction and operations, as well as ensuring that the power is brought to market", explained Jürgen Mortag, Managing Director of GFRI. "When the state subsidies expire, this will boost the value of the power plants substantially by increasing income and securing the selling of the facility – instead of demolition costs it means we realise an attractive capital gain when the fund is subsequently wound up.