Commerz Real acquires additional wind farm for closed-end special fund
Investment volume of 45 million euros
16.5 MW capacity, 20-year full service agreement with global market leader Vestas
Commerz Real has acquired the wind energy farm “Höcherberg” around 30 kilometres north east of Saarbrücken for its “CR Institutional Renewable Energies Fund”. The investment volume for the farm, which is about to be completed, is approx. 45 million euros. The seller is Juwi Energieprojekte, domiciled in Wörrstadt, Rhineland-Palatinate, one of the largest project developers for renewable energy in Germany with some 900 wind energy plants already constructed. The farm has a total capacity of 16.5 megawatts and is expected to be connected to the national grid at the end of September. A full service agreement for 20 years has been concluded with the manufacturer of the turbines, the global market leader Vestas. Pursuant to the Act on Granting Priority to Renewable Energy Sources (EEG 2014), the feed-in tariff is assured through to the year 2035 once the farm has been commissioned.
“CR Institutional Renewable Energies Fund” was conceived as a closed-end special AIF (alternative investment fund) and launched in the autumn of 2016; it had its first closing at the beginning of 2017 with the acquisition of two wind farms in Brandenburg with a total investment volume of approx. 105 million euros. In the medium term it is to be developed into a diversified portfolio of onshore wind farms focusing on Germany with a total volume of approx. 300 million euros for professional and semi-professional investors. These can participate in the fund with sums of one million euros upwards.