Union Investment has acquired a wind farm in Germany for its new infrastructure fund and is targeting other facilities in Scandinavia and Poland.
Union Investment has acquired a wind farm in Germany for its new infrastructure fund and is targeting other facilities in Scandinavia and Poland.
Located 40 kilometres south of Nuremberg in the town of Gunzenhausen, the onshore facility was connected to the grid in 2011-2012 and consists of nine turbines manufactured by Danish firm Vestas.
The vendor is Munich-based Renerco Renewable Energy Concepts, which will be in charge of both technical and commercial management of the wind farm. Financial details were not disclosed.
Union Investment has geared the target portfolio of the infrastructure fund 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, will be selectively added to the mix.
The fund, which was established in May 2012, is targeting total investments of around €1 bn. On completion of the three-year investment phase, the portfolio should consist of some 20 wind farms and solar parks.
