Renewable

September 27 (Renewables Now) - The asset management unit of German renewables operator Encavis AG (ETR:CAP) said on Monday it has acquired a 74.5-MW portfolio of wind parks in France for one of its special investment funds.

The assets were bought by Encavis Asset Management AG on behalf of the Encavis Infrastructure Fund II (EIF II) from Swiss renewables producer and marketer Axpo Holding AG. Financial details about the deal were not disclosed.

The portfolio in question consists of five wind parks that were built and brought online by Axpo’s subsidiary Volkswind during the first half of 2021. With a total of 29 turbines, the power plants are expected to be capable of producing enough electricity to cover the power demand of around 37,000 homes per year. They are located across five different municipalities.

The renewable energy-focused EIF II fund has a total equity capital of around EUR 480 million (USD 562.4m), invested in wind and solar parks across Europe. The special fund is marketed exclusively by Munich-based bank BayernLB and is managed by Hansainvest Lux SA.

"By acquiring these wind farms, we successfully continue our growth path and the internationalisation of the fund's portfolio," said Karsten Mieth, speaker of Encavis’ management board.

(EUR 1.0 = USD 1.172)