San Francisco-based Renewable Ventures has raised $100 million for a solar generation fund. Matt Cheney, ceo of Renewable Ventures, says Solar Fund I investors include pensions, insurance companies and other institutions. "What we do is basically cater to those in the marketplace who want to access clean energy, but can't afford the upfront cost. We can take those projects and put them into a financial package in a way the markets can understand them," he says.

The fund is expected to seek out partnerships on some projects, but would most likely complete smaller scale developments of a few hundred kWs on its own. Renewable Ventures has some $600 million worth of projects it hopes to bring to fruition in the next three years, or so. Cheney declined to discuss details about future projects. A spokeswoman was unable to provide information on the funds fee structure or targeted returns.

Renewable Ventures began as a vehicle for Amsterdam-based NUON to enter the North American markets. The company maintains a series of investment vehicles focused on other areas of the renewables sector but has not previously set one up geared at solar investments.