Hamburg-based asset manager Union Investment has bought Beconnais solar park in France, taking the total spend of its infrastructure fund to €200 mln.
Hamburg-based asset manager Union Investment has bought Beconnais solar park in France, taking the total spend of its infrastructure fund to €200 mln.
It is the sixth purchase by the fund, which was launched in May 2012 to focus on renewable energy projects across the continent. It already has parks in Germany, the UK and Ireland.
The 200,000 m2 site is around 100 km south of Bordeaux and was bought from Solaire Direct.
In France, electricity from renewable energy gets a fixed, subsidised tariff. Beconnais has a guaranteed tariff for 20 years from the start of operations.
‘We intend to utilise the favourable conditions in France to make further investments,’ said Union’s Christoph Schumacher.
