Entry into the Irish renewables market klimaVest acquires its first wind farm in Ireland
03.12.2024 • 4 Reading Time
Highlight
- Deal with Statkraft marks entry into Irish renewables market
- Attractive location with favourable wind conditions
Commerz Real has secured a new wind farm in the Irish Midlands for its klimaVest fund. The acquisition of Moanvane wind farm in County Offaly marks the entry into the Irish renewables market for klimaVest. The wind farm has been in operation since the end of September 2024 and is located about a 90-minute drive west of Dublin. It comprises twelve Nordex turbines with an installed capacity of 57.6 megawatts (MW). The wind farm provides the fund with guaranteed remuneration based on a 15-year corporate power purchase agreement (corporate PPA).
With this strategic acquisition klimaVest is further diversifying its real asset portfolio of renewable energies in Europe.
With this strategic acquisition klimaVest is further diversifying its real asset portfolio of renewable energies in Europe.
Ireland is a very attractive location thanks to its unique and favourable wind conditions which come close to offshore environments. Wind energy is accounting for a third of the country’s power supply and has developed to an increasingly relevant contributor to Ireland’s energy mix.
In addition to Ireland, klimaVest holds investments in 43 solar and wind parks in Germany, Finland, Sweden, France and Spain.
Moanvane wind farm has been developed and sold by Statkraft, Europe’s largest generator of renewable energy. Statkraft are to remain involved and will continue to provide operational management services. The site also includes an amenity trail, which is currently under construction and due for completion early next year. The 6 km trail will be open to the public and will offer a safe walking route, while integrating biodiversity measures to enhance the local eco-system.
With the launch of klimaVest in 2020, Commerz Real became one of the pioneers in the field of open-ended renewable energy infrastructure funds for private investors. klimaVest currently has a total of 1.4 billion euros in assets under management and since its launch has been delivering steady returns independent of the stock market environment to its investors. The fund enables private investors to invest in real renewable energy projects that are essential to the transformation of the European economy.
Moanvane wind farm has been developed and sold by Statkraft, Europe’s largest generator of renewable energy. Statkraft are to remain involved and will continue to provide operational management services. The site also includes an amenity trail, which is currently under construction and due for completion early next year. The 6 km trail will be open to the public and will offer a safe walking route, while integrating biodiversity measures to enhance the local eco-system.
With the launch of klimaVest in 2020, Commerz Real became one of the pioneers in the field of open-ended renewable energy infrastructure funds for private investors. klimaVest currently has a total of 1.4 billion euros in assets under management and since its launch has been delivering steady returns independent of the stock market environment to its investors. The fund enables private investors to invest in real renewable energy projects that are essential to the transformation of the European economy.
About Commerz Real Group
Commerz Real, a Commerzbank Group company, stands for 52 years of market experience and a managed volume of around {{assetundermanagement}} billion euros. It combines comprehensive asset management know-how and broad structuring expertise to create its characteristic range of services comprising asset-oriented fund products and customised financing solutions. The range of funds includes the open-ended property fund Hausinvest, the first private investor impact fund with a real asset focus Klimavest, institutional investment products and entrepreneurial investments under the CFB Invest brand.
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