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Braemar to launch European solar fund

Property investment company Braemar Group is launching a pan-European solar fund.

The Guernsey-listed €90 million Oeic launches in late Autumn and will invest in pan-European solar parks initially targeting six sites across Germany. The fund has a target yield of above 10 per cent per annum over a 20 year period.

Braemar has already secured the €90 million in initial fund capital and will wholly own all generation equipment. Minimum investment for the fund is £10,000 and the Company plans to acquire additional parks across Europe with further institutional and retail funding.

Braemar chief executive Marc Duschenes says: “Germany is an ideal place for solar investment because it combines affordable land prices with premium prices for solar energy and technology. Since all the electricity is pre-sold to German utilities, we are able to offer double digit returns which make it a great investment. I have heard it said by some bankers that during the credit crunch, even sunshine is not certain. Well, so long as that is not the case, we have constructed a great product.”

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