German investment manager Commerz Real AG said today it has acquired a 28.5-MW wind farm in Finland from project developer Energiequelle GmbH.
The asset will be added to the portfolio of Commerz Real’s Klimavest impact fund, which recently reached an equity capital volume of EUR 1 billion (USD 1.07bn). The value of the transaction was kept under wraps.
Located near the city of Vaasa, in western Finland, the wind farm was brought online in 2022. It is equipped with five Nordex turbines of the N163/5.7 MW model that are expected to have an annual output equal to the electricity consumption of more than 12,000 average Finnish homes. Energiequelle is handling the plant’s technical and commercial operations, while Nordex is servicing the hardware.
Commerz Real, the real assets arm of German lender Commerzbank AG (ETR:CBK), sees Finland as a “stable and attractive market for wind power investments.”
According to Timo Werner, a fund manager for Klimavest, the acquisition will further diversify the fund’s assets. “In the future we will actively examine the possibility of investments in Finland and the neighbouring Scandinavian countries,” he said.
(EUR 1.0 = USD 1.072)
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