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Capital Dynamics AG, a Swiss private-asset manager, closed a $282 million fund to invest in commercial solar projects in the U.S.
Sixty percent of the fund is already destined for at least 50 projects in Massachusetts, New Jersey, Pennsylvania and California, and the company expects it will be fully allocated by early 2013, David Scaysbrook, Capital Dynamics’s managing director, said in an interview today.
The investments will support more than $500 million of solar projects that Scaysbrook said will deliver stable returns to investors by selling electricity.
“Solar is a low-risk asset, has long-term contracted cash flows and is an attractive investment,” Scaysbrook said.
The fund has 15 institutional investors from the U.S., U.K., Australia, Germany, South Korea and Japan as well as high net-worth individuals and families, according to an e-mailed statement from Zug, Switzerland-based Capital Dynamics.
“I think with some of the educated investors we deal with, they understand solar as a low risk or one of the lowest risk technologies in clean energy,” Scaysbrook said.
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