Encavis fund buys 11-MW wind project in France

La Chapelle-Glain wind farm, France. Image by Energiequelle.

March 28 (Renewables Now) - The asset management subsidiary of German solar and wind farm operator Encavis AG (ETR:ECV) today said that it has acquired an 11-MW wind project in western France that is being built by project developer ABO Wind AG (ETR:AB9).

Located northwest of the city of Tours in the region of Pays-de-la-Loire, the park will comprise five Vestas turbines which are expected to supply 8,600 households with green electricity and save 700 tonnes of carbon emissions per year.

"The Chenu wind farm optimally complements the fund portfolio and provides further regional diversification. The technology mix is very balanced with 54% wind and 46% solar investments. Especially in the current market situation, long-term investments in renewable energies remain an extremely wise decision. Hence, our investment momentum remains very high," said Encavis Asset Management's speaker of the board Karsten Mieth.

The Chenu wind park will be integrated into the special fund Encavis Infrastructure Fund II (EIF II) which is distributed by German lender BayernLB. Encavis noted that EIF II's investment volume in renewable energy already exceeds EUR 960 million (USD 1.05bn).

The deal is the second purchase by Encavis Asset Management for the EIF II fund since the start of 2022. In January, the asset manager bought the 56.3-MW Archidona solar park in Spain which is scheduled to go online this month.

(EUR 1 = USD 1.100)

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