Power Producer Encavis AG’s Fund Closes Investment Phase with €1.13 Billion
Encavis Infrastructure Fund II renewable portfolio stands at 680 MW
December 12, 2022
Europe-based independent power producer Encavis AG’s fund Encavis Asset Management completed the investment phase of the Encavis Infrastructure Fund II (EIF II) with a total value of €1.13 billion (~$1.19 billion).
EIF II is a pan-European renewable portfolio created in 2017. Currently, it is one of the largest clean energy funds in Germany, with investments in ~680 MW of capacity.
EIF II recently acquired two solar parks in Germany with a total capacity of 45 MW in the Rhineland-Palatinate. While one solar park will be connected to the power grid this year, the second park will likely be connected in the first half of next year.
Encavis said the two parks together would help reduce 327,500 tons of carbon emissions annually.
With the latest acquisitions, EIF II’s diverse portfolio now includes 22 wind and 21 solar farms in Germany, France, the Netherlands, Spain, and Finland.
The total installed renewable capacity is currently over 3.4 GW, helping mitigate more than 1.4 million tonnes of carbon emissions annually.
EIF II is an alternative investment fund created for banks, distributed exclusively by investment bank BayernLB.
Encavis Asset Management AG is a wholly owned subsidiary of MDAX-listed Encavis AG.
Spokesman of the Management Board of Encavis Asset Management AG, Karsten Mieth, said, “We will continue to leverage our market-leading expertise in the renewable energy sector to rapidly advance the energy transition. To this end, two further institutional funds are currently raising money: EIF IV, which -as the successor fund of the EIF II- is targeting banks, and the EIF V, which is designed for insurance companies and pension funds.”
Senior Director of Alternative Investments at BayernLB, Herbert Schädler, observed, “The focus of EIF II on the regulatory needs of the (savings) banks and on exclusively one asset class (Renewable Energies), which provides investors with maximum transparency, were the basis for the extraordinarily strong investor demand. The target volume was clearly exceeded and finally reached 480 million euros of equity.”
Encavis has been actively acquiring clean energy projects to expand its renewable portfolio. Last month, the company acquired a 55 MW ready-to-build solar project in Spain from Hive Energy, a UK-based renewable energy developer.
In October this year, the power producer completed non-recourse project financing of €32 million (~$33.79 million) for the Danish solar parks Svinningegården in the north-western part of Zealand with a generation capacity of 34 MW and Rødby Fjord on Lolland in south-western part Zealand.
Get the most relevant India solar and clean energy news.
RECENT POSTS
LATEST HEADLINES
Government Clarifies ALMM Enlistment Guidelines for Co-branded Solar Modules
Mar 24, 2023
Intra-State Sections of Evacuation Infrastructure for Renewables Delayed
Mar 24, 2023
EnBW Takes €2.4 Billion Final Investment Decision on Offshore Wind Project
Mar 24, 2023
India Missed 2022 Renewables Target as Rooftop Solar and Wind fell Short
Mar 24, 2023
Researchers Aim to Accelerate Delivery of Space-Based Solar Power to Earth
Mar 24, 2023
India added an impressive 2.5 GW open access solar capacity in 2022, registering a growth of 92% year-over-year (YoY), according to the 2022 Q4 & Annual Mercom India Solar Open Access Market Report. Karnataka emerged as the to...
March 23, 2023
Markets & Policy
Government Clarifies ALMM Enlistment Guidelines for Co-branded Solar ModulesThe Ministry of New and Renewable Energy (MNRE) has modified the Approved List of Models and Manufacturers (ALMM) guidelines and provided exceptions to broaden the qualification criteria for modules produced under agreements betwe...
March 24, 2023
C&I
In Bengaluru, a 100 kW Solar System Can Save C&I Entities ₹1 Million AnnuallyMercom India successfully concluded the C&I Clean Energy Meet 2023 in Bengaluru, where stakeholders in the solar sector and commercial and industrial entities converged to enthusiastically discuss the benefits of renewable ene...
March 24, 2023
Other
Gensol Acquires Solar Tracker Maker Scorpius for ₹1.35 BillionGensol Engineering, a part of solar engineering, procurement, and construction (EPC) company Gensol Group, has acquired India-based solar tracker manufacturer Scorpius Trackers for ₹1.35 billion ($16.4 million). Gensol said the ac...
March 23, 2023
Trending News
Mercom Focus
Researchers Find Solution to Manage Load in Solar PV & Storage Systems
February 28, 2023
February 27, 2023
February 24, 2023
January 17, 2023
Magazine
Latest News
The Ministry of New and Renewable Energy (MNRE) has modified the Approved List of Models and Manufacturers (ALMM) guidelines and provided exceptions to broaden the qualification criteria for modules produced under agreements...
March 24, 2023
The Ministry of New and Renewable Energy (MNRE) told the Parliamentary Standing Committee on Energy that the intra-state stretches of the Green Energy Corridor (GEC) have been delayed due to various reasons, including...
March 24, 2023
German electric utility company Energie Baden-Wuerttemberg (EnBW) has made its final €2.4 billion (~$2.6 billion) investment decision on He Dreiht, a major wind project in the German North Sea. The project has a capacity of 960...
March 24, 2023
The Parliamentary Standing Committee on Energy report has isolated underwhelming progress on rooftop solar and wind energy projects as the primary reason for India falling short of achieving its renewable energy capacity target...
March 24, 2023
Researchers at Northumbria University are studying ways of producing wireless electricity from space to Earth by harvesting the Sun’s energy. U.S.-based aerospace, defense, and information security organization Lockheed Martin...
March 24, 2023
The Maharashtra Electricity Regulatory Commission (MERC) recently directed Hindustan Petroleum Corporation (HPCL) and the Maharashtra State Electricity Distribution Company (MSEDCL) to recompute the delayed payment charge from...
March 24, 2023
The National Renewable Energy Laboratory (NREL) has devised a new way to produce perovskite solar cells that could speed its commercialization. Different layers are typically added sequentially to a conductive glass substrate to...
March 24, 2023
Saudi Arabia-based energy company ACWA Power has signed power purchase and investment agreements with National Electric Grid of Uzbekistan, and the Ministry of Investment, Industry, and Trade to develop new solar and battery...
March 24, 2023
The China Securities Regulatory Commission has approved the registration of CSI Solar, the engineering, procurement, and construction arm of solar module maker Canadian Solar, to issue an initial public offering (IPO). The...
March 24, 2023
Renewable capacity grew by 9.6% in 2022, adding a record 295 GW worldwide. This accounts for 83% of all power capacity added last year and brings the global renewable generation capacity to 3,372 GW by the end of last year, a...
March 24, 2023
Get the most relevant India solar and clean energy news.
POPULAR POSTS
Government Clarifies ALMM Enlistment Guidelines for Co-branded Solar Modules
Mar 24, 2023
Intra-State Sections of Evacuation Infrastructure for Renewables Delayed
Mar 24, 2023
EnBW Takes €2.4 Billion Final Investment Decision on Offshore Wind Project
Mar 24, 2023
India Missed 2022 Renewables Target as Rooftop Solar and Wind fell Short
Mar 24, 2023
Researchers Aim to Accelerate Delivery of Space-Based Solar Power to Earth
Mar 24, 2023