The asset management arm of Aviva PLC launched on Thursday fund-raising to invest in renewable energy infrastructure projects in the European Union.

Also on Thursday, London-listed Ludgate Environmental Fund Limited said it had raised 18 million pounds ($26.84 million), bringing total assets to 50 million pounds to invest in companies specialising in the environment and clean energy.

Rapid growth in renewable energy investment over the last four years will go into reverse this year as a result of tighter public equity and project finance, following the global credit squeeze, researchers New Energy Finance said earlier this month...

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