The Impax Asset Management and Bullfinch Asset partnership has acquired a portfolio of solar assets in Germany from DZ4, expanding its relationship with the solar systems and electricity storage devices lessor.
Greenfinch, established in January last year by an Impax-managed fund and Bullfinch, has added 3,500 decentralised solar plants and battery storage systems to its portfolio.
Greenfinch was established to deploy capital in projects that enable locally generated energy and support decarbonisation of the real estate sector.
The latest transaction with DZ4 follows Greenfinch’s acquisition in July last year when it bought a solar portfolio worth “millions of euros” also from DZ4.
DZ4 and Greenfinch have also concluded project financing for debt capital with ING for the latest transaction.
Daniel von Preyss, the head of private equity/infrastructure at Impax Asset Management, said: “The partnership with DZ4 is an excellent addition to Greenfinch’s portfolio of distributed generation assets, which is an exciting area of development in the renewable energy sector.
“We look forward to working with such an experienced company and further developing our partnership with DZ4.”
Hugo Merida-Baraba, co-CEO and CIO of Bullfinch, said: “We are very pleased to have been able to close this new deal with such a strong partner as DZ4. This shows the great potential of decentralised clean energy in Germany and Europe.”
Thomas Riegler, managing director of DZ4, said: ”Greenfinch’s investment enables us to fulfill the desire of many more homeowners for decentralised power generation and energy independence in a quick, capital-efficient and uncomplicated way. In this way, one’s own energy transition becomes a reality.”
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