LONDON (Reuters) - Alternative asset manager Morrison & Co. has launched a new investment platform that will develop, build and operate renewable power plants across Europe, it said on Wednesday.
The platform will be called Galileo Green Energy LLC (GGE) and will be launched with initial capital commitments of 220 million euros (185.45 million pounds).
The platform has secured its first partnership with renewable energy developer EMPower to jointly develop a 300 megawatt portfolio of wind farm sites in Ireland, the firm said.
Galileo Green Energy will invest in the development of wind and solar photovoltaic energy projects, as well as energy storage solutions, across Europe, especially large markets Italy, Spain, Germany, France and Britain.
Morrison is a specialist infrastructure investment manager, with around A$17 billion ($11.50 billion) of capital in consolidated assets under management.
Infratil Limited, a New Zealand-based infrastructure investment company established by Morrison in 1994, owns 40% of GGE.
(Reporting by Nina Chestney; editing by Nick Macfie)