Dutch Renewable Energy Fund – II

  • Follow-up of the successful DREF I portfolio managed by substantially the same team (€ 46,5 mln)
  • Second lien (quasi-senior) loans to Dutch renewable energy projects
  • Backed by government feed-in Tariff schemes
  • 50-60 investments yielding 6,5% gross (4,5% net return expected)


Expected CO₂ reduction impact by DREF-II:  29 Mton

(equivalent 800.000 households for 12 yrs)

(DREF I: 6,3 Mton realised)

Target size: €150 million (hard cap €200 million) with a first close of €75 million. Minimum commitments €25 million
Legal entity: Dutch limited partnership (‘CV’)
Investment period: 3+1 years as from final close
Fund term: 12 years as from final close
Recycling: Repayments during investment period will remain available for re-investment
Target returns: 6,5% gross (project level), fund return 4,5% net after fees and costs
First close:
(€75 mln): Q2-2021
Final close:
June 2022
Sector focus
Please contact us for further information