Commerz Real has acquired 49 percent of the shares in a French wind and solar portfolio on behalf of its Klimavest impact fund.
The remaining 51 percent of the portfolio is indirectly held by Valeco, the French subsidiary of publicly traded German energy company EnBW. The seller of the stake is a fund managed by Mirova, an affiliate of Natixis Investment Managers.
The portfolio consists of nine onshore wind farms and one solar park with a total capacity of 169.1 megawatts. The majority of the portfolio is located in the south of France between the metropolitan areas of Montpellier and Toulouse. The 10 assets are all in operation and were connected to the grid between 2016 and 2021. The turbines have long-term full maintenance contracts with renowned manufacturers such as Vestas and Enercon. The potential annual electricity production of the investment corresponds to the average annual consumption of around 35,000 French households and represents a potential avoidance o