- Transaction with Statkraft marks entry into the Irish renewable energy market
- Attractive location with good wind conditions
News ReleasesklimaVest acquires its first wind farm in Ireland
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updated at12/03/2024
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Commerz Real has acquired a new wind farm in the Irish Midlands for its klimaVest fund. The acquisition of the Moanvane wind farm in Offaly County marks klimaVest’s entry into the Irish renewable energy market. The park has been in operation since the end of September 2024 and is located about 90 minutes west of Dublin by car. It consists of twelve Nordex turbines with an installed capacity of 57.6 megawatts (MW). The wind farm delivers secured income to the fund based on a 15-year power purchase agreement (corporate PPA).
With this strategic acquisition, klimaVest is further diversifying its tangible asset portfolio of renewable energies in Europe.
Ireland is a very attractive location due to its unique and favourable wind conditions, which are close to offshore. Wind power accounts for one third of the country’s electricity supply and is becoming an increasingly important part of the Irish energy mix.
Michael Henn
Global Head of Green Deal Infrastructure Commerz Real
In addition to Ireland, klimaVest is invested in 43 solar and wind farms in Germany, Finland, Sweden, France and Spain.
The Moanvane wind farm was developed and sold by Statkraft, Europe’s largest renewable energy producer. Statkraft will continue to provide operational management services for the project. The wind farm also includes an expanded hiking trail, which is scheduled to be completed in the first quarter of 2025. The six-kilometre route will be accessible to the public as a safe pedestrian route and will enrich the local ecosystem with measures to promote biodiversity.
With the launch of klimaVest in 2020, Commerz Real is one of the pioneers in open renewable energy infrastructure funds for private investors. Klimavest currently has assets under management of more than 1.4 billion euros. The fund enables private investors to invest in the transformation of the European economy with real renewable energy projects.
About Commerz Real
Under the umbrella of Commerz Real AG, Commerzbank consolidates its asset management subsidiaries on a single platform: the investment managers Commerz Real, Yellowfin Asset Management, and Aquila Capital, as well as the financing boutique Commerz Leasing. Approximately ~1.000 employees at international locations manage assets totaling more than 55 billion billion euros. The platform offers retail investors, corporate clients, and professional and semi-professional investors access to liquid investments, real assets, and financing solutions—ranging from thematic and multi-asset strategies to customized mandates. Through its distribution company, Commerz Real Capital, it also provides access to Commerzbank Asset Management’s solutions.
Media contact
Focus on renewable energies
Maurice Farrouh
+49 611 7105 4405maurice.farrouh@commerzreal.com