Press release Commerz Real expands Klimavest portfolio to include solar power in Sweden for the first time ever
23.04.2024 • 3 Reading Time
Highlights
- Impact fund investing in five solar parks to be newly erected with 246 megawatts-peak
- Green electricity for approx. 30,000 average Swedish households
For the first time ever Commerz Real is investing in Swedish solar parks for its Klimavest impact fund. The five photovoltaic projects are already in an advanced stage of development and will have an installed capacity of 246 megawatts-peak. The developer is the Swedish company Helios Nordic Energy, which is currently developing some 70 projects in Scandinavia and the Baltics with a volume of approx. 2.3 gigawatts. As recently as May of this year Commerz Real acquired two photovoltaic projects in Sweden together with Helios for an institutional fund.
This investment is enhancing the diversification of the Klimavest portfolio in several ways.
The five parks are project developments which are to be connected to the grid in 2023 and 2024. Four of the parks are located in the Greater Stockholm area and one project on the outskirts of Gothenburg. Helios is responsible for continuing the project development until it is ready for construction, for accompanying the construction until completion and for the ongoing technical management of the facilities. The generated green electricity is intended to meet the annual consumption of about 30,000 average Swedish households according to figures of Eurostat.
About Commerz Real
Commerz Real is the asset manager for tangible asset investments of the Commerzbank Group and has 50 years of international experience in the market. More than 800 employees manage assets worth around 34 billion euros at the headquarters in Wiesbaden as well as at 17 other locations and branches in Germany and abroad.
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Focus on renewable energies