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Investec takes stake in Scottish wind farm

Investec takes stake in Scottish wind farm

(6 July 2004 – Australia) Investment bank Investec Australia has taken a major stake in a wind farm in Scotland. With the aid of Melbourne’s Viridis Energy Capital the bank paid A$30 million for a 49 percent stake in the wind farm.

Investec power specialist Mark Schneider said the companies were looking to jointly invest some A$100 million in clean energy ventures over the next 12 months and up to $500 million in total.

Investec said it was looking at projects in Australia, Europe and the US but that most of the capital would originate in Australia. Schneider said the bank was looking at wind, hydroelectric, geothermal power, gas produced from landfill and energy based on green waste projects.

The investment bank said suitable energy projects needed to be operational and produce steady cash returns.
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