Encavis raises more equity for solar-wind fund now exceeding EUR 200m
The Budel solar park. Image by: Solarcentury (www.solarcentury.com).
The asset management unit of German wind and solar park operator Encavis AG (ETR:CAP) has raised EUR 74.5 million (USD 84.4m) in equity for a special fund marketed exclusively by BayernLB.
The volume of the fund, called Encavis Infrastructure Fund II (EIF II), now surpasses EUR 200 million and is invested in a solar-and-wind portfolio totalling 232 MW. About 60% of the assets are located in Germany, 35% in the Netherlands and the remaining 5% in France.
The German company said in a statement that Encavis Asset Management AG is experiencing solid demand from institutional investors for investment opportunities in renewable energy assets, hence the latest equity raise for the fund.
"The EIF II certainly scores well, among other things, because of the existing statutory feed-in tariffs and thus easily calculable returns that fit in well with our planning horizons," said Michael Blaesius, chairman of the board of management of Kreissparkasse Reutlingen, which is one of the fund’s investors.