Capital Dynamics plans to raise about $ 800 million over two years for the two investment funds in the U.S

Capital Dynamics Inc., a privately held Swiss company with about $ 20 billion in assets, plans to raise about $ 800 million over two years for the two investment funds in the U.S., Europe and Australia energy markets renewable.

The company focuses on infrastructure projects expected cash returns of 15 to 20 percent, the general director Karl Olsoni said in an interview yesterday in Tokyo, where the company aims to raise as much as 20 percent of the funds. The company declined to provide details of existing funds, including assets under management and investments.

The capital is the momentum of its fundraising after being chosen by the Department of Public Employees Retirement System, the largest U.S. plan public pension in October to take over the management of its energy $ 480,000,000 Clean above and technology funds managed by Pacific Corporate Group. Renewable energy is expected that approximately one third of global electricity in 2035 compared to 18 percent in 2008, according to the International Energy Agency, governments seek ways to prevent climate change caused by burning fossil fuels.

"There is a big boost for renewable energy," said Olsoni. "It really does not matter if you are politically left or right. If you like you're right for energy security and if you stay you like it is clean and green."

While progress is being impeded by the lack of global agreement on reducing emissions of greenhouse gases, the trend is still in favor of renewable energy, Olsoni said. Investments in environmental companies, technology grew 16 percent to $ 140 million in the 12 months to 30 September.

The Cancun talks

Two weeks of talks led by the United Nations that held in Cancun last week failed to reach agreement on a global emissions target, while in the United States, President Barack Obama said he may be able to reduce emissions of greenhouse gases US-after Republicans regained control of the House in November 2 elections.

Republicans say they will try to roll back the regulations of the Environmental Protection Agency to limit carbon pollution, ease the brakes on coal mining and may try to block billions of dollars in federal subsidies for clean energy .

The WilderHill New Energy Global Innovation Index, a 87 - member reference of companies developing or using technologies for low carbon, has fallen 16 percent in 2010 after rising 40 percent in 2009.

U.S. Standards

Still, there are opportunities to generate profits in renewable energy, Olsoni said, citing the use of renewable portfolio standards in the U.S., where each state require electricity providers to obtain a minimum percentage of energy from renewables by a specific date. A total of 24 states plus the District of Columbia have issued binding targets, while five states have nonbinding goals.

Dynamics of capital is helping smaller firms win major contracts with high energy yield up to 20 percent, often with solar energy in U.S. states with renewable energy targets, he said. The criteria currently excludes investment in Japan, where it is highly regulated and the market dominated by companies like Tokyo Electric Power Co., the largest generator of electricity in Asia, which already have the technology and influence to obtain contracts for energy, Olsoni said.

"Good cash yields'

"Many energy projects get rid of cash yields very good that some Japanese investors might find attractive," he said, adding that the pension funds are showing interest. "These are long-lived assets that produce cash flow in the long term."

global installations of solar panels can more than double to 15.8 gigawatts of this year as developers create systems to benefit from government incentives, according to technology researcher iSuppli. Demand may increase to 19.3 gigawatts in 2011, iSuppli said last month.

global coal generation could fall by one third for the year 2035 in Western Europe and North America amid public opposition and the costs associated with the carbon dioxide emissions, according to 2010, the International Energy Agency perspectives. By contrast, wind generation is about to grow 8 percent annually, he said.

The sector is not without risk, Olsoni said. Recently Spain reducing subsidies for solar power plants, heat and some wind farms to limit the cost of electricity for consumers. The government is trying to reduce the impact of solar energy into electricity bills, such as solar power plants took more than half of the 5 million euros (6600 million dollars) in subsidies for renewable energy in 2009 while providing only a 11 percent of zero-emission energy consumed.

Moody's Investors Service said Monday it would reduce the country's Aa1 rating less than three months after the previous cut. The country is "susceptible to new episodes of financial stress," said Moody's, citing the 290 million euros of financing required next year by the central government of Spain, regional governments and banks.

"Spain is the feed-in tariffs in its fiscal balance and did not pass through costs to utility customers and created a disconnect that was unsustainable," said Olsoni. "If you have feed-in tariffs that are passed to ratepayers, and that probably hurts you a solid foundation."