A new Guernsey Green Fund has been launched backing the wind farm sector in the UK and Ireland.
Resonance British Wind Energy Income II, an authorised, closed-ended investment fund, is focused on consolidating the fragmented small and medium-sized wind farm industry in Britain and Ireland, offering investment return and mitigating environmental damage.
It is the manager’s third Guernsey fund, having previously launched a similar UK onshore wind fund and a fund focused on industrial water treatment, waste to energy and resource recovery infrastructure projects.
Resonance Asset Management is an alternative asset management firm focused on originating, distributing and managing real asset investment funds for institutional investors. It has a focus on assets in growing and changing industries with compelling long-term investment themes, with areas of focus including alternative and conventional energy, water and waste treatment, environmental and agricultural assets.
Lawyers from Ogier advised on the Guernsey elements of the launch, working with lead counsel Simmons & Simmons. TMF Group in Guernsey is the fund administrator and KPMG certified Guernsey Green Fund status.
“It is a pleasure to see Resonance successfully launch the new fund, returning to Guernsey once again and choosing to fulfill the criteria to be designated with Guernsey Green Fund status,” said Ogier partner Bryon Rees.
“The Guernsey Green Fund, being the world’s first regulated green investment fund product, is seeing increased interest and is particularly relevant at a time when there needs to be a greater focus on the environment and when investors are expecting greater accountability.”
The Guernsey Green Fund enhances investor access to the green investment space by providing a trusted and transparent product that contributes to the internationally agreed objectives of mitigating environmental damage and climate change.
Dr Andy Sloan, Deputy Chief Executive, Strategy, at Guernsey Finance, said: “This new fund launch is testament to Guernsey’s expertise and leadership in green finance.”
