Commerz Real, acting on behalf of its impact real assets focused fund, has acquired a 49.9% stake in a portfolio of fourteen onshore wind farms in Germany.

The Klimavest impact fund is investing an undisclosed amount to buy the stake in the wind farms owned by EnBW Energie Baden-Württemberg.

The portfolio of 47 wind turbines has a 133MW capacity and are located at various sites in Baden-Württemberg, Brandenburg, Rhineland-Palatinate and Saarland.

The wind farms were developed and built by EnBW and the majority of them went into operation in 2017.

Commerz Real said EnBW will continue to manage, service and maintain the wind farms and market the green power they generate. 

The latest deal is the sixth transaction for Klimavest, Germany’s first impact fund for private investors which focuses on real assets. Launched in November last year, the fund has already grown up to a volume of more than €300m. The portfolio includes seven wind farms in Germany and Sweden and a solar farm in Spain.

Gabriele Volz, CEO of Commerz Real, said: ”This cooperation marks a key milestone for both Klimavest and Commerz Real. As well as being one of Germany’s biggest energy groups, EnBW is also one of the leaders in developing and operating renewable energy installations, and we hope that many more joint projects will follow.”

Thomas Kusterer, EnBW CFO, said: “In Commerz Real, we are delighted to have found an investor with a long-term commitment to ENBW’s projects. The partnership covers the entire operating life of the wind farms. We plan to invest the sale proceeds in new growth projects, primarily in the renewable energy segment.”

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