Commerz Real’s real assets impact fund Klimavest has added assets in Spain to its European renewables portfolio.

Commerz Real said the fund has acquired Cartuja, a 50MWp solar power plant and a 30MW wind power project scheduled to be connected to the grid in 2027.

The assets were acquired from a partnership between Spanish Renewables fund manager Everwood Capital (90% stake) and the project developer Abei Energy (10% stake) for an undisclosed sum.

The two assets are located in the southern Spanish municipality of Jerez de la Frontera in the Cadiz region.

Abei Energy continues to be responsible for the technical maintenance of the solar park as well as the development of the wind project.

Yves-Maurice Radwan, the head of green deal infrastructure at Commerz Real, said: “We have known and appreciated the Spanish renewables market for years and are now entering the wind power segment for the first time.

“The Cadiz region is one of the best locations for renewable energy production in Europe due to the sun radiation and wind, and thus offers the best conditions for a hybrid project of this kind.”

To read the latest edition of the latest IPE Real Assets magazine click here