October 23 (Renewables Now) - Encavis Asset Management AG, also known as Encavis AM, said today that a “well-known” insurer had mandated the company as the investment advisor for a special fund that will pursue solar and wind assets with a target volume in the three-digit million Euro range.
The company, which is part of German solar and wind park operator Encavis AG (ETR:CAP), noted that this fund had already concluded transactions for a total capacity of 32 MW and is now adding a further 18 MW through the acquisition of the Les Landes wind farm in the French department of Haute-Vienne.
Encavis AM pointed out that the company is conducting due diligence for more wind and solar parks in Central Europe.
BayWa r.e. renewable energy GmbH, which built the Les Landes wind farm, confirmed its sale on Wednesday, saying that the company will continue to manage the plant. Katy Hogg, global head of wind projects at BayWa r.e., commented that the firm aims to build three additional wind farms in France over the next 12 months.