Renewable Energy Trust Asia launches with $250M for energy tech

GE Energy Financial Services and Epuron Singapore said today they have established the Asia-Pacific region's first renewable energy private trust with $250 million to be invested in the next five years in wind, solar, small hydroelectric, biogas and biomass.

GE Energy Financial Services, a unit of Fairfield, Conn.-based General Electric (NYSE: GE), took an 80 percent stake in the trust. The remaining stake is owned by Epuron, which is a unit of Hamburg, Germany's Conergy.

The Renewable Energy Trust Asia plans to target the estimated $7 billion renewable energy market in India, South Korea and the Association of Southeast Asian Nations, which includes  Brunei Darussalam, Cambodia, Indonesia, Lao, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

Epuron plans to act as the trust's trustee-manager, responsible for project development, debt financing, acquisition of hardware, and supervision of construction projects. Once built, Epuron plans to manage the projects.

The trust is expected to build 200-megawatt portfolio of projects. The first investment is planned within a year. The trust also plans to acquire and operate renewable energy projects.

GE Energy Financial Services has invested more than $4 billion in renewable energy, including financing for wind farms (see GE steps in to finance $800M Finavera wind farms) and $50 million for a cleantech center in Abu Dhabi (see GE teams up with Abu Dhabi on cleantech).

Epuron develops, finances and implements wind farms, solar thermal power stations and bioenergy plants, completing 90 projects with an investment volume of more than €800 million.

Officials said they are considering whether to list the trust on the Singapore Exchange Securities Trading Limited stock exchange.