19th Mar 2008 09:00
HSBC Holdings PLC19 March 2008 HSBC ENVIRONMENTAL INFRASTRUCTURE FUND PARTNERS WITH THE CARBON TRUST HSBC Environmental Infrastructure Fund ('the Fund') has committed up to £18million to acquire 49 per cent of, and provide development funding to,Partnerships for Renewables ('PfR'), a venture created by Carbon TrustEnterprises to develop renewable energy projects on public sector land. The Fund will also make a £30 million revolving construction capital facilityavailable to fund an estimated £100 million of equity required to build out therenewable energy projects. Partnerships for Renewables aims to develop a 500megawatt portfolio of renewables projects on public sector land across the UKduring the next five years. Notes to editors: HSBC Environmental Infrastructure FundHSBC Environmental Infrastructure Fund is managed by HSBC Specialist FundManagement Limited ('HSFML'), which is authorised and regulated by the FinancialServices Authority and is a wholly-owned subsidiary of HSBC Holdings plc. HSBCHoldings plc serves over 128 million customers worldwide through around 10,000offices in 83 countries and territories in Europe, the Asia-Pacific region, theAmericas, the Middle East and Africa. With assets of some US$2,354 billion at 31December 2007, HSBC is one of the world's largest banking and financial servicesorganisations. HSBC is marketed worldwide as 'The world's local bank'. Partnerships for Renewables ('PfR')Partnerships for Renewables was set up by Carbon Trust Enterprises in 2006 towork in partnership with the public sector to develop, construct and operaterenewable energy projects The Carbon TrustThe Carbon Trust is an independent company set up by government in response tothe threat of climate change, to accelerate the move to a low carbon economy byworking with organisations to reduce carbon emissions and develop commercial lowcarbon technologies. Carbon Trust EnterprisesCarbon Trust Enterprises Limited is a separate, commercial entity, whichbenefits from being a subsidiary of the Carbon Trust. For further information on The Carbon Trust, Carbon Trust Enterprises orPartnerships for Renewables contact: The Carbon Trust press office on 020 7544 3100. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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