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Investment in renewable energy

Investment in renewable energy
Restis and Feidakis have decided to join their forces in order to invest in the booming sector of renewable energy sources.

Restis and Feidakis have decided to join their forces in order to invest in the booming sector of renewable energy sources.

Following similar examples set by other shipping entrepreneurs like Peter Georgiopoulos of General Maritime Corp. and Genco Shipping & Trading, two leading figures of the business and shipping world, Mr. Viktor Restis and Mr. George Feidakis have decided to join their forces in order to invest in the booming sector of renewable energy sources. Together they set FG RES Fund, a venture capital which is expected to invest at least 24 million euros in order to acquire stakes in small and medium, yet promising, companies active in the field of renewable energy. The fund is also financed by TANEO, which is a government-funded entity, set up to boost entrepreneurship. TANEO will participate in FG RES Fund with approximately 12 million euros or 49.99 percent, while Mr. Feidakis and Mr. Restis will each hold an additional 25.005 percent. An additional 6 million euros can be drawn until the end of 2009 from any private investors, which will be interested in participating in this scheme.

Restis is the owner among other entities of Enterprises Shipping & Trading and strategic investor in Freeseas (listed NY shipping company of Mr. Ion Varouxakis). He also holds a stake in Manchester City, while his shipping companies run one of the largest shipbuilding programmes in the country. George Feidakis is the largest shareholder of FG Europe, while his shipping interests are tied to London-listed Globus Maritime.

www.TurkishMaritime.com.tr

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