Investments from Neste Oil and Eesti Energia in the Climate Opportunity Fund bring GreenStream’s assets under management to 170 MEUR

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GreenStream is managing 4 proprietary carbon funds acquiring carbon credits from projects under the Kyoto project mechanisms. Following the recent investments of Finnish refining company Neste Oil and Estonian state-owned energy company Eesti Energia AS into the post-2012 Climate Opportunity Fund, GreenStream has increased its assets under management to approximately 170 MEUR. Tomas Otterström, Executive Vice President in charge of Business Origination and Sales of GreenStream says: “We are very pleased that Neste Oil and Eesti Energia, two reputable and solid international companies, have entrusted us to acquire post-2012 carbon credits for them through the Climate Opportunity Fund.” Otterström explains: “GreenStream launched its first carbon fund in 2007. Before that the company had launched a fund investing in small hydro power and assisted the World Bank to raise funds for the Community Development Carbon Fund. In addition to managing own funds, GreenStream was also contracted as carbon manager for EBRD’s and EIB’s Multilateral Carbon Credit Fund in Russia and Ukraine and to manage the State of Finland’s portfolio of emission reduction purchase agreements”. Otterström adds: “Next, you can expect us to launch new exciting investment vehicles focusing on cash returns to investors. The GreenStream Climate Market Fund and the China GreenStream Fund are our first funds tailored for institutional investors.” Executive Vice President Harri Roto, who manages the Climate Opportunity Fund and is responsible for GreenStream’s activities in China, says: “We have already entered ERPAs with more than 50 projects in China with estimated emission reductions of 40 Mt CO2. Our joint venture in China with Juno Capital Group and their extensive contact network has helped us build up an exceptional project pipeline. This pipeline will serve our current carbon funds and offers a basis for new investment vehicles targeting investments in renewable energy, energy efficiency and clean energy projects in China.”

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