New Energy Solar's (ASX:NEW) investment manager, Evans Dixon has established a $200 million solar energy investment company.
The new company, US Solar Fund PLC, will be listed on the London Stock Exchange.
It will target institutional investors and will invest in utility scale solar power projects in the United States and other OECD countries in the Americas.
New Solar has will make an investment of $15 million US dollar in US Solar Fund plc, and believes that the establishment of the fund offers new co-investment opportunities, access to larger, high-quality projects and operational economies of scale which will allow New Solar to grow, diversify and reduce fees and operating costs.
Shares in New Energy Solar (ASX:NEW) are trading 0.36 per cent higher at $1.38.