Union Investment acquisisce “Wind farm” per il nuovo Fondo infrastrutture

(Union Investment acquires first onshore wind farm for new infrastructure fund)
Union Investment has acquired the first asset for its UniInstitutional Infrastruktur SICAV-SIF infrastructure fund in the shape of the Gunzenhausen wind farm. Located 40 kilometres south of Nuremberg, the onshore facility was connected to the grid in 2011/2012. It consists of nine Gridstreamer V90 series turbines manufactured by Danish world market leader Vestas, each with a rated output of 2.0 MW and a hub height of 105 metres. The vendor is Munich-based RENERCO Renewable Energy Concepts AG. Going forward, RENERCO will be in charge of both technical and commercial management of the wind farm. Details of the purchase price were not disclosed. A wholly owned subsidiary of BayWa r.e. renewable energy GmbH, RENERCO has over 20 years’ experience in the field of wind energy both as project developer and facility operator. A payment of 9.41 to 9.69 euro cents will be made for every kilowatt-hour of electricity produced over a 20-year period, in accordance with Germany’s Renewable Energy Law (EEG), which means the wind park will generate immediate returns for the fund when the project company joins the portfolio. Calculated using an average wind speed at hub height of 6.1 to 6.2 metres per second, the site is forecast to produce around 37 million kilowatt-hours of energy a year.
Union Investment has geared the target portfolio of the infrastructure fund, which was established in May 2012, towards European onshore wind power plants, in particular in Germany, France and the UK. Other wind farms, for example in Scandinavia and Poland, as well as photovoltaic plants comprising up to 30 per cent of assets, will be selectively added to the mix. Total planned investment by the fund has been set at around EUR 1 billion. “After successfully placing the fund, we are pleased to be working with a strong partner such as RENERCO to lay the foundations for further high-return investments,” said Dr. Christoph Schumacher, a member of the management team at Union Investment Institutional Property GmbH, which acted as service provider for this first investment. On completion of the approximately three-year investment phase, the portfolio should consist of some 20 wind farms, as well as solar parks in accordance with the target allocation.
Source: Company