NEW YORK--(BUSINESS WIRE)--Greystone Renewable Energy Ventures, an affiliate of Greystone & Co, Inc. of New York City is pleased to announce the closing of the Greystone Renewable Energy Ventures Fund 2008-A. This fund has been established to invest in renewable energy projects which generate federal investment tax credits (ITC) pursuant to Section 48 of the IRS Code. The types of projects include: Thermal Process Heat, Photovoltaic’s (PV), Geothermal Electric, Fuel Cells, Solar Hybrid Lighting, Direct Use Geothermal, Micro turbines. The Fund will invest proceeds into the ownership entity at or just prior to the placed in service date of the project. The Fund has significant available cash to fund the ITC equity now. The goal of the Fund is to be fully subscribed by December 31, 2008.
