Encavis Asset Management AG expands wind portfolio for Versicherungskammer

EQS-News: Encavis Asset Management AG / Key word(s): Acquisition/Expansion
Encavis Asset Management AG expands wind portfolio for Versicherungskammer
06.12.2022 / 07:09 CET/CEST
The issuer is solely responsible for the content of this announcement.

Corporate News

 

Encavis Asset Management expands wind portfolio for Versicherungskammer

  • Further acquisition for Encavis Infrastructure Fund III
  • The fund's first investment on the west coast of Ireland

Neubiberg/Munich, 6 December 2022. Encavis Asset Management AG (Encavis AM), a subsidiary of the MDAX-listed wind farm and solar park operator Encavis AG, advises Versicherungskammer Group on the acquisition of an Irish wind farm with a total capacity of 27.6 megawatts (MW). The transaction is handled by the Encavis Infrastructure Fund III (EIF III).

The wind farm consists of a total of eight turbines. The first five turbines are ready for construction and commissioning is currently planned for the end of 2023. The remaining three wind turbines are in an advanced stage of development and could go into operation in 2026.

Once the first five turbines are completed, the wind farm will supply 24,400 households with green electricity and annually save 25,900 tonnes of CO2. In addition, this investment contributes to Ireland's energy policy of meeting 70 per cent of the country's electricity needs from renewable sources by 2030.

Georg Distler, Head of Infrastructure Investments at Group Versicherungskammer: "Renewable energies are an essential part of our investment strategy and sustainability is an important aspect in our capital investment. With this investment in Ireland, we are once again diversifying our portfolio and making an active contribution to CO2 avoidance. We will continue to significantly expand such commitments, as we have done in the past years.”

Karsten Mieth, Spokesman of the Board of Encavis Asset Management AG: "The high wind speeds on the Irish west coast strengthen the fund's earnings power. We are proud to have facilitated this complex transaction for Versicherungskammer and will provide an ongoing contribution to the performance of the assets over the operating life cycle."

Encavis AM is responsible for the structuring of the entire project, in particular the financing, and will take over the operational management, energy management, accounting and controlling of the wind farm.

 

About Encavis Asset Management AG:

Encavis Asset Management AG offers institutional investors tailor-made portfolios and fund solutions for investments in the growth market of Renewable Energies. The Company has been successfully investing in this sector since 2006, covering the entire value chain from asset sourcing to the operational management of investments.

Encavis Asset Management AG is a wholly owned subsidiary of MDAX-listed Encavis AG (ISIN: DE0006095003, Prime Standard, Ticker symbol: ECV) and, as part of the Encavis Group, benefits from their many years of experience and broad industry network. Encavis AG is one of the leading independent power producers (IPPs) in the field of Renewable Energies in Europe. The Encavis Group's installed capacity currently adds up to more than 3.4 gigawatts (GW), which corresponds to a total saving of more than 1.4 million tonnes of CO2 per year.

Encavis is a signatory of the UN Global Compact as well as of the UN PRI network. Encavis AG's environmental, social and governance performance has been awarded by two of the world's leading ESG rating agencies. MSCI ESG Ratings awarded the corporate ESG performance with "A" and ISS ESG with their "Prime" label.

Please visit our website www.encavis-am.com for additional information.


About Versicherungskammer Group:

The Versicherungskammer Group is the largest public insurer nationwide and now the seventh-largest primary insurer in Germany. In the 2021 financial year, it generated total premium income of EUR 9.28 billion. With its regionally active companies, the company operates in Bavaria, the Palatinate, Saarland, Berlin and Brandenburg. Together with the other public insurers, the health insurer of the S Finance Group operates nationwide.

The social commitment of the Versicherungskammer Group is of great importance. The strategy of supporting voluntary institutions and initiatives, which are particularly active in the field of prevention and safety, and which are geared towards sustainability, has been additionally strengthened for several years by the two foundations, Versicherungskammer-Stiftung and Versicherungskammer-Kulturstiftung. In addition, the Versicherungskammer Group has been awarded the "Work and Family" certificate as a family-friendly company for the third time. It has around 7,000 employees, including around 290 trainees.

 

Your Contact:  

Encavis AG      
Tanja Van den Wouwer      

Head of Sustainability & Communications     
Phone +49 (0)89 44230 6025       
tanja.van_den_wouwer@encavis.com   

Konzern Versicherungskammer
Inge Sommergut

Unternehmenskommunikation  
Phone +49 (0)89 2160 4106
inge.sommergut@vkb.de 



06.12.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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