Union Investment Launches Renewable Energy Fund
Union Investment has launched Specialised Investment Fund, which invests in wind farms and gains exposure to photovoltaic plants, primarily in France, Germany and the United Kingdom. The core fund has already raised 50 million during its first round of financing, enabling the fund to acquire the first wind projects in the pipeline and commence operations on schedule.
At the end of the approximately three-year investment phase, it is expected that the fund will be invested in more than 20 wind farms and in a number of solar parks as per the target allocation. The focus will be on onshore projects, generally large contiguous wind farms on dry land.
Total investment is expected to be around 1 billion. Approximately 300 million is earmarked from the equity capital managed by Union Investment. The rest will be contributed in the form of debt finance by the participating project companies, whic