Encavis Expands Wind Portfolio for Versicherungskammer

Encavis Asset Management AG (Encavis AM), a subsidiary of the MDAX-listed wind farm and solar park operator Encavis AG, advises Versicherungskammer Group on the acquisition of an Irish wind farm with a total capacity of 27.6 megawatts (MW). The transaction is handled by the Encavis Infrastructure Fund III (EIF III).

The wind farm consists of a total of eight turbines. The first five turbines are ready for construction and commissioning is currently planned for the end of 2023. The remaining three wind turbines are in an advanced stage of development and could go into operation in 2026.

Once the first five turbines are completed, the wind farm will supply 24,400 households with green electricity and annually save 25,900 tonnes of CO2. In addition, this investment contributes to Ireland's energy policy of meeting 70 per cent of the country's electricity needs from renewable sources by 2030.

Georg Distler, Head of Infrastructure Investments at Group Versicherungskammer: "Renewable energies are an essential part of our investment strategy and sustainability is an important aspect in our capital investment. With this investment in Ireland, we are once again diversifying our portfolio and making an active contribution to CO2 avoidance. We will continue to significantly expand such commitments, as we have done in the past years.”

Karsten Mieth, Spokesman of the Board of Encavis Asset Management AG: "The high wind speeds on the Irish west coast strengthen the fund's earnings power. We are proud to have facilitated this complex transaction for Versicherungskammer and will provide an ongoing contribution to the performance of the assets over the operating life cycle."

Encavis AM is responsible for the structuring of the entire project, in particular the financing, and will take over the operational management, energy management, accounting and controlling of the wind farm.