Renewable energy production of Commerz Real funds reaches record level
Wind farms and solar parks managed by Commerz Real produced more than three terawatt-hours of green electricity in 2022
Arithmetical electricity consumption of some 935,000 German two-person households met
Commerz Real, the real assets subsidiary of Commerzbank, is consistently moving ahead with the expansion of its infrastructure portfolios for the generation of renewable energy. In the past year the production of green electricity in the managed funds increased by more than 15 per cent. This growth was the result of investments in European wind farms and solar parks for institutional fund products, as well as for the retail fund Klimavest.
For the first time ever the renewable energy plants in which funds or mandates managed by Commerz Real have a stake generated a total power volume of 3,040,403,522 kilowatt-hours, about three terawatt-hours therefore. This amount meets the annual arithmetical consumption of approx. 935,000 German two-person households, based on figures from Germany’s Federal Statistical Office for 2020. Nearly two terawatt-hours were accounted for by the shareholdings of the funds and mandates of Commerz Real itself.
Our investments are making an active contribution to the European energy transition
Yves-Maurice Radwan, Head of Green Deal Infrastructure at Commerz Real
“Thanks to the ongoing demand on the part of our institutional and private investors, we have been able to continually expand our renewable energy portfolios. In doing so we are diversifying in terms of geography, technology, manufacturers and the marketing channels for the generated electricity. Our investments are making an active contribution to the European energy transition,” says Yves-Maurice Radwan, Head of Green Deal Infrastructure at Commerz Real.
Commerz Real also expects growth in electricity production in the current year. The asset manager recently acquired a shareholding in a French wind and solar portfolio (installed capacity of 169 megawatts), five solar parks to be constructed in Sweden (installed capacity of 246 megawatts) and five wind energy plants in Finland (installed capacity of 28.5 megawatts) for its funds.
Commerz Real has been investing in solar energy since 2005 and in wind energy since 2016. At present the company manages more than 50 solar power stations as well as more than 40 onshore and offshore wind parks in Germany and Europe; these have a total installed capacity of approx. 1.5 gigawatts.