Encavis fund buys 22-MW onshore wind park in Germany

The asset management subsidiary of German solar and wind farm operator Encavis AG (ETR:ECV) today said it has acquired a 21.8-MW wind farm in Brandenburg.

The acquisition was made on behalf of Encavis Asset Management’s special bank fund EIF II, bringing its total investment volume to more than EUR 1 billion (USD 1.02bn). The vendor is the UKA Group which developed and realised the project.

The acquired wind park is located in the Auras municipality south of the city of Cottbus and features four Vestas turbines which were put into operation between November 2021 and February 2022.

The green electricity produced by the four machines supplies 24,800 households, offsetting 27,400 tonnes of carbon emissions annually.

The wind park benefits from subsidies.

"This investment sets a milestone of diversification in this special fund. More than one billion euros are invested in well over 40 European wind and solar power plants which produce electricity from renewable sources. In times of rising interest rates and inflation, Encavis funds also show a "natural" hedge in risk management due to the current high electricity prices," said Encavis Asset Management's spokesman of the board Karsten Mieth.

(EUR 1.0 = USD 1.020)

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