Encavis Expands Wind Portfolio for Versicherungskammer

Encavis Asset Management AG (Encavis AM), a subsidiary of MDAX-listed wind farm and solar park operator Encavis AG, advises Versicherungskammer Group on the purchase of an Irish wind farm with a total capacity of 27.6 megawatts (MW).

The wind farm has eight turbines in total. The first five turbines are ready for construction, with completion scheduled for the end of 2023. The remaining three wind turbines are nearing completion and could be operational in 2026.

Once the first five turbines are built, the wind farm will provide green electricity to 24,400 families and save 25,900 tonnes of CO2 each year. Also, this investment helps Ireland reach its energy goal of getting 70% of its electricity needs met by renewable sources by 2030.

Georg Distler, Head of Infrastructure Investments at Group Versicherungskammer, said:

"Renewable energies are an essential part of our investment strategy, and sustainability is an important aspect of our capital investment. With this investment in Ireland, we're once again spreading out our investments and doing our part to cut down on CO2. We will continue to significantly expand such commitments, as we have done in the past years.”

Karsten Mieth, Spokesman of the Board of Encavis Asset Management AG:

"The high wind speeds on the Irish west coast strengthen the fund's earnings power. We are proud to have facilitated this complex transaction for Versicherungskammer and will provide an ongoing contribution to the performance of the assets over the operating life cycle."

Encavis AM is in charge of project structuring, particularly funding, and will take over operational management, energy management, accounting, and control of the wind farm.

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Source: Encavis