Electricité de France in Creation of Electranova Capital

Cleary Gottlieb is advising Electricité de France in the creation of Electranova Capital, a cleantech venture capital fund, which will have a minimum investment capacity of €60 million, with €30 million being invested by EDF as seed investor and anchor limited partner. The fund will be managed by Idinvest Parners, and will focus on minority investments in European companies developing innovative clean technologies in the energy sector.

EDF is the leading electricity producer in Europe and a major producer of nuclear energy globally, with a 2011 turnover of €65.3 billion. Idinvest Partners is a leading pan-European private equity management firm focused on the low and mid-market segments, with €3 billion under management.