Over €100m‎ has been invested in Solar21, the Irish renewable energy fund, which invests in solar photovoltaic (PV) farms throughout Europe.

Michael Bradley, CEO of Solar 21 Renewable Energy Ireland, said: "When you contrast this stable investment environment with the current equity market volatility which has proven to be all risk and no return over the past 10 years, it's not difficult to see why so many people are drawn to the radically different solar energy investment concept."

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The company anticipates growing the find to €500 million over the next year and a half.Most of Solar 21's funs are invested in PV solar farms to provide renewable energy to the German and Italian national grid backed by 20 year FiT agreements.

Mr Bradley concluded: "People are so open to this new form of investment because it offers the type of investment security that is difficult to achieve elsewhere on the marketplace. It differs greatly from other more traditional investments such as equities, bonds or commodities in that it is not dependent upon some unknown future event in order to achieve a return."

(CD)