Encavis Asset Management AG expands existing wind farm at excellent location in Ireland for its Alternative Investment Fund

17.10.2023

EQS-News: Encavis Asset Management AG/ Key word(s): Expansion/Funds Encavis Asset Management AG expands existing wind farm at excellent location in Ireland for its Alternative Investment Fund 17.10.2023/ 07:00 CET/CEST The issuer is solely responsible for the content of this announcement. Corporate

EQS-News: Encavis Asset Management AG / Key word(s): Expansion/Funds
Encavis Asset Management AG expands existing wind farm at excellent location in Ireland for its Alternative Investment Fund
17.10.2023 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

Corporate News


Encavis Asset Management expands existing wind farm at excellent location in Ireland for its Alternative Investment Fund


Neubiberg/Munich, 17th October 2023 – Encavis Asset Management, a leading provider of green energy investments for institutional investors and a subsidiary of the MDAX-listed wind and solar park operator, Encavis AG, announces the successful grid connection of an additional turbine for the Clogheravaddy wind park.

County Donegal on the west coast of Ireland, with average wind speeds exceeding eight metres per second, is an exceptionally windy and excellent location for generating clean wind energy. The region also makes a significant contribution to Ireland's energy strategy, aiming to cover at least 80 percent of the country's electricity needs from renewable sources by 2030.

The local Clogheravaddy wind park previously consisted of a total of six turbines. The first three turbines, each with a capacity of 3.6 MW, were commissioned in 2019, producing clean energy ever since. In the first quarter of 2022, three more turbines with the same capacity were put into operation. Now, the wind park has successfully expanded to seven turbines, capable of supplying green electricity to 24,800 households and preventing emissions of 26,400 tonnes of CO2 annually.

This total investment is part of the portfolio of the Encavis Infrastructure Fund IV (EIF IV), a special fund for banks that considers their specific requirements for regulation and risk management. BayernInvest Luxembourg S.A. serves as the AIFM responsible for fund management and implements the demanding investment strategy classified under Article 9 of the EU Disclosure Regulation on sustainability-related disclosure requirements in the financial services sector (SFDR). The fund is exclusively distributed by BayernLB, that also closely assists savings banks and cooperative banks in their regulatory integration.

Karsten Mieth, Spokesman of the Management Board of Encavis Asset Management AG, says: "We are proud to have supported this flagship project in Ireland with our qualified Structuring Team, successfully bringing this subproject from the construction phase to commissioning. This is another high-yield component in the successful portfolio development of the EIF IV, which is currently in high demand."

 

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 3.5 gigawatts (GW), of which more than 2.1 GW is provided by Encavis AG. This corresponds to a total saving of around 0.8 million tonnes of CO2 per year stand-alone for the Encavis AG.

Another Group member company is Stern Energy S.p.A., based in Parma, Italy, a specialised provider of technical services for the installation, operation, maintenance, revamping and repowering of photovoltaic systems across Europe.

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.

 

Your contact:
Encavis AG
       
Tanja Van den Wouwer      
Head of Sustainability & Communications
Phone +49 89 442 30 60 25         
tanja.van_den_wouwer@encavis.com



17.10.2023 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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