Columbia Threadneedle’s open-ended European sustainable infrastructure fund has acquired mini-hydropower plants in Italy and an onshore wind farm in Sweden.
The manager said its European Sustainable Infrastructure Fund (ESIF) has bought the portfolio of mini-hydropower plants in the Marche region of central Italy and acquired the Storrun Windkraft wind farm in Sweden’s Sundsvall area. The two assets produce 70GWh of electricity every year.
Financial details were undisclosed.
Heiko Schupp, the global head of infrastructure at Columbia Threadneedle Investments, said the assets present an attractive investment opportunity for ESIF’s investors, enabling them to support Europe’s energy transition away from fossil fuels.
“Hydropower, for example, accounts for a third of the total electricity generated from renewable energy sources in Europe but is an often-overlooked source of return which is lowly correlated to both traditional asset classes and other types of renewable energy generation.
“The new investments complement ESIF’s existing sustainable holdings, and we look forward to further building the fund’s clean energy portfolio,” Schupp said.
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