Encavis Asset Management AG's new alternative investment fund EIF IV acquired a high-performance wind farm in Ireland

Encavis Asset Management AG's new alternative investment fund EIF IV receives first capital commitments and realises the acquisition of a high-performance wind farm in Ireland

Image: PixabayImage: Pixabay

Encavis Asset Management AG (Encavis AM), subsidiary of SDAX-listed wind and solar park operator Encavis AG (ISIN: DE0006095003, Prime Standard, Ticker symbol: ECV) has successfully advised on the acquisition of an onshore wind farm in Ireland from ABO Wind AG via its subsidiary ABO Wind Ireland Ltd. This marks the inaugural transaction for the EIF IV special fund, which was launched together with BayernInvest Luxembourg S.A. at the end of 2021.

The wind park will have seven turbines in total representing a generation capacity of 23.6 megawatts (MW). Three turbines, each with a capacity of 3.6 MW, have been in operation since 2019. Three similar turbines will connect to the grid in Q1 2022, and the final seventh turbine is expected to be operational by mid-2023. By then, all the seven turbines will be connected to the grid and will provide green electricity to about 24,800 households and save close to 26,400 tonnes of CO2 annually. Furthermore, this investment contributes to Ireland's energy policy of generating at least 80 percent of the country's electricity demand from renewable sources by 2030.

The turbines are located in County Donegal in the Northwest of the Republic of Ireland. This location benefits from excellent wind resources with average wind speeds of more than 8 metres per second.

Encavis Infrastructure Fund IV (EIF IV) has acquired the wind park with BayernLB being the exclusive distributor of this fund. Like its predecessor, this alternative investment fund caters to credit institutions while meeting their specific regulatory and risk management requirements. BayernInvest Luxembourg S.A., being the AIFM, is responsible for the fund management. It applies a sophisticated investment strategy compliant with Article 9 of the EU Disclosure Regulation on sustainability-related disclosure requirements in the financial services sector (SFDR).

"The strong demand from institutional investors for sustainable investment opportunities remains high. The wind farm in Ireland is the first acquisition of a long-term stable portfolio for the newly launched special fund EIF IV," says Karsten Mieth, Speaker of the Board of Encavis Asset Management AG.

Ralf Rosenbaum, Managing Director of BayernInvest Luxembourg summarises: "The aim is to build a highly diversified portfolio in terms of technologies (onshore wind and solar) and locations in Europe with a targeted fund volume of 500 million euros."

Encavis Asset Management
Press Office
Encavis Asset Management AG, Ireland, wind farm, onshore, fund, acquisition, capital commitment, epresentation, MW, megawatts, Q1

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