German insurer Versicherungskammer has acquired a 110MWp Dutch solar farm from a fund managed by Impax Asset Management.
Impax said its renewable energy infrastructure fund has sold the Vlagtwedde solar farm in the Netherlands to Versicherungskammer which acquired the asset via funds managed by Encavis Asset Management.
In a separate announcement, Encavis said its Encavis Infrastructure Fund III fund has received a further €150m in equity from Versicherungskammer and bought the Vlagtwedde solar plant.
Isabella Pfaller, CFO at Versicherungskammer, said: “We are very pleased about the acquisition of this large solar park in the Netherlands and the resulting further regional diversification of our fund portfolio. For us, investing also means taking responsibility towards society and the environment.”
The Impax fund acquired the Vlagtwedde solar farm in the municipality of Westerwolde, in August 2019, from Dutch developer Powerfield.
Hector Boyce, associate director within the Impax private equity/infrastructure transaction team, said: “From the outset, the project has been developed in close cooperation with local parties with whom we have had a great experience.
“Delivering the project on time and within budget despite the global pandemic is testament to our team’s strong industrial skill-set. ”
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