Lazard Sustainable Private Infrastructure Fund And Renfin Announce A Strategic Partnership For Italian Hydropower Investments

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NEW YORK, April 29, 2024 - Lazard Asset Management (LAM) today announced that its Sustainable Private Infrastructure Fund (Lazard SPI Fund) has formed a strategic partnership with RENFIN to jointly target investments in renewable energy in Italy, specifically small-scale hydroelectric power plants ("SHEPPs").

This alliance brings together the Lazard SPI Fund's investment and financing expertise and RENFIN group's proven track record in responsible ownership and operations of SHEPPs across Europe and worldwide.

"Hydropower appeals to us as an investment class due to its long economic lifespan, low risk of technological obsolescence, and its crucial role in delivering cost-effective and dependable renewable energy," said Robert Wall, Head of Sustainable Private Infrastructure at LAM. "We recognize a distinctive opportunity in Italy, given its unique climate, terrain, and fragmented SHEPPs market. RENFIN is a highly regarded and experienced partner, and we are thrilled to embark on this venture together."

"We take pride in being a major owner and operator of SHEPPs in Italy, the UK, Czech Republic and key geographies that we believe are most attractive for hydropower investments," said Jan Tošnar, founder and Managing Director of RENFIN. "We are excited that the next stage of our company's growth in Italy comes from partnering with such a distinguished investment partner as LAM. Our shared vision and values with Lazard SPI Fund set the foundation for a fruitful collaboration."