Encavis Asset Management AG's new alternative investment fund EIF IV acquired a high-performance wind farm in Ireland

DGAP-News: Encavis Asset Management AG / Key word(s): Financing/Expansion
09.02.2022 / 07:00
The issuer is solely responsible for the content of this announcement.


Corporate News

Encavis Asset Management AG's new alternative investment fund EIF IV receives first capital commitments and realises the acquisition of a high-performance wind farm in Ireland

Neubiberg/Munich, February 9, 2022 - Encavis Asset Management AG (Encavis AM), subsidiary of SDAX-listed wind and solar park operator Encavis AG (ISIN: DE0006095003, Prime Standard, Ticker symbol: ECV) has successfully advised on the acquisition of an onshore wind farm in Ireland from ABO Wind AG via its subsidiary ABO Wind Ireland Ltd. This marks the inaugural transaction for the EIF IV special fund, which was launched together with BayernInvest Luxembourg S.A. at the end of 2021.

The wind park will have seven turbines in total representing a generation capacity of 23.6 megawatts (MW). Three turbines, each with a capacity of 3.6 MW, have been in operation since 2019. Three similar turbines will connect to the grid in Q1 2022, and the final seventh turbine is expected to be operational by mid-2023. By then, all the seven turbines will be connected to the grid and will provide green electricity to about 24,800 households and save close to 26,400 tonnes of CO2 annually. Furthermore, this investment contributes to Ireland's energy policy of generating at least 80 percent of the country's electricity demand from renewable sources by 2030.

The turbines are located in County Donegal in the Northwest of the Republic of Ireland. This location benefits from excellent wind resources with average wind speeds of more than 8 metres per second.

Encavis Infrastructure Fund IV (EIF IV) has acquired the wind park with BayernLB being the exclusive distributor of this fund. Like its predecessor, this alternative investment fund caters to credit institutions while meeting their specific regulatory and risk management requirements. BayernInvest Luxembourg S.A., being the AIFM, is responsible for the fund management. It applies a sophisticated investment strategy compliant with Article 9 of the EU Disclosure Regulation on sustainability-related disclosure requirements in the financial services sector (SFDR).

"The strong demand from institutional investors for sustainable investment opportunities remains high. The wind farm in Ireland is the first acquisition of a long-term stable portfolio for the newly launched special fund EIF IV," says Karsten Mieth, Speaker of the Board of Encavis Asset Management AG.

Ralf Rosenbaum, Managing Director of BayernInvest Luxembourg summarises: "The aim is to build a highly diversified portfolio in terms of technologies (onshore wind and solar) and locations in Europe with a targeted fund volume of 500 million euros."

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 SDAX-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 a broad industry network.

Encavis AG is one of the leading independent power producers (IPPs) in the field of Renewable Energies in Europe. The Company acquires and operates solar power plants and (onshore) wind farms in Germany and ten other European countries. The Encavis Group's total generation capacity currently accounts to around 3.1 gigawatts (GW).

Encavis AG is a signatory of both UN Global Compact and UN PRI and the environmental, social and governance performance has been rated by ISS ESG and MSCI ESG, two of the world's leading ESG research and rating agencies and received the ISS ESG Prime-Label (B) und MSCI Rating AA.

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


About BayernLB

As a focused specialist bank, BayernLB is an important investment financier for the Bavarian and German economy. It is committed to progress. Its customers - corporates, savings banks, institutional investors and the public sector - are at the heart of its sustainable activities. In its corporate customer business, BayernLB focuses on sectors of the future, such as mobility, energy, technology, construction and basic materials, mechanical and plant engineering. The bank supports companies from these sectors in particular in successfully developing their business models. As a real estate financier, the Group offers 360-degree expertise across the entire value chain in the real estate business - and in numerous asset classes. BayernLB is the central bank of the savings banks in Bavaria and has been a proven partner to savings banks in Bavaria and throughout Germany for decades. As a TechBank, the Group subsidiary DKB offers its more than 4.5 million customers an outstanding customer experience and excellent digital solutions. BayernLB is owned by the Free State of Bavaria and the Association of Bavarian Savings Banks.

About BayernInvest Luxembourg S.A.

Since 1991 we have been successfully active in the mutual and special funds business in the financial center of Luxembourg. With a volume of 100 billion euros under management in special and public funds as well as institutional asset management mandates (as of 28.02.2021), the BayernInvest Group is one of the ten largest German capital management companies. We see ourselves as a service provider offering specialized and customized investment products (UCITS and AIF) in Germany and abroad. Customer orientation and customer satisfaction are our highest standards. Service and quality orientation are a matter of course for us.


Contact for press inquiries

Encavis AG
Tanja Van den Wouwer
Head of Sustainability & Communications
Phone +49 89 44230 6025

Andreas Zimniok
Head of Communications
Phone +49 89 2171 21306

BayernInvest Luxembourg S.A.
Ralf Rosenbaum
Phone +35 2282 62440

Contact for fund distribution

Ruth Kerschagl
Head of Sales Sparkassen & Proprietary Business
Phone +49 89 2171 23281

09.02.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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