Klimavest, the renewable energy-focused impact fund launched by Commerz Real two years ago, has reached a volume of €1 bn.
The fund's portfolio currently comprises 33 operational wind farms and solar parks, as well as 10 solar park project developments in Germany, France, Spain, Finland and Sweden.
'Given the great significance of renewable energy supply in Europe we expect to see a further acceleration of the energy transition coupled with new and attractive investment opportunities for investors,' said Timo Werner, fund manager for Klimavest.
Klimavest is a European Long-term Investment Fund (ELTIF) and plans to develop a broad-based portfolio of sustainable infrastructure and plants for renewable energy generation. In the medium term the open-ended fund is targeting a volume of €10 bn.
Klimavest invests in real assets which make a demonstrable contribution to the avoidance of greenhouse gas emissions. In doing so the fund takes into account the sustainability parameters in accordance with the current EU Taxonomy Regulation as well as the transparency requirements placed on an impact fund in accordance with the EU Disclosure Directive.
For the 2023 calendar year the fund management is aiming to attain a return of 3.5-4.5% (using the BVI method).
In the fund’s 2021/2022 business year, its existing plants generated a total of 661 gigawatt-hours of green electricity. According to figures from Germany’s Federal Statistical Office, this volume is sufficient to cover the electricity requirements of more than 200,000 German households.
