UK investment manager Foresight Group Holdings Ltd (LON:FSG) said today that its recently closed energy transition fund FEIP has invested in a geothermal joint venture (JV) in the Netherlands. The Foresight Energy Infrastructure Partners (FEIP) fund, which achieved a final close of EUR 851.4 million (USD 990.5m) in September, has invested in a JV with Netherlands-based 85 Degrees Renewable Ltd to buy existing Dutch geothermal wells and build new ones.
The JV is targeting up to 200 MW of geothermal heat projects at home. FEIP, which was launched in January 2020, is focused on energy transition infrastructure, including renewables, storage and grids, mainly in Europe. The fund has so far invested in two constructionstage onshore wind projects in Sweden and Finland, an onshore wind portfolio in Spain and an energyfrom-waste plant in Italy. The geothermal agreement will mark its fifth investment.