Commerz Real acquires wind parks seven and eight for special fund

  • 5 wind turbines built by Vestas and Nordex in Rhineland-Palatinate and Saarland
  • Total output of 16.2 megawatts

(31 January 2019) Commerz Real Kapitalverwaltungsgesellschaft (KVG) has purchased two wind parks in Rhineland-Palatinate and in Saarland with a total power output of 16.2 megawatts for its “CR Institutional Renewable Energies Fund”, and thus increased the portfolio to eight assets. The seller is the international project developer BayWa r.e. from Munich. The technical operational management of the plants will remain the responsibility of BayWa r.e. It was agreed that confidentiality be maintained on the purchase price.

The wind park in Spechenwald, Saarland (Saarlouis rural district) comprises three wind turbines built by Nordex with a power output of 9.0 megawatts and went into operation in September 2018. The Sien wind park in the Birkenfeld rural district in Rhineland-Palatinate comprises two wind turbines built by Vestas with a total output of 7.2 megawatts and is due to be commissioned in January 2019. Both parks have a service life of 25 years. In each case there is a full-service agreement for a period of 20 years with the manufacturers of the turbines.
“CR Institutional Renewable Energies Fund” is structured as a closed-end special AIF (alternative investment fund) and is developing a diversified portfolio of onshore wind parks in Germany with a total volume of approx. 300 million euros for professional and semi-professional investors.
Commerz Real was advised on legal and tax aspects of the transactions by Baker McKenzie, Berlin, and on technical aspects by TÜV SÜD Industrie Service, Munich.

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Commerz Real Kapitalverwaltungsgesellschaft mbH
Commerz Real Kapitalverwaltungsgesellschaft is responsible within the Commerz Real Group for the Alternative Investment Funds for professional and semi-professional investors.

Commerz Real Group is part of the Commerzbank Group and has more than 4 years’ market experience and manages assets of approx. 31 billion euros. The company combines comprehensive know-how in asset management and a broad-based structuring expertise to deliver its signature range of services of fund products focused on tangibles and bespoke financing solutions. The fund spectrum includes the open-ended real estate fund hausInvest, institutional investment products as well as entrepreneurial participations in real estate, aircraft, regenerative energy and ships. In its role as leasing company of Commerzbank Group, Commerz Real offers tailored equipment leasing concepts along with bespoke financing arrangements for assets such as real estate, big-ticket equipment and infrastructure projects.

Gerd Johannsen, Media Spokesperson
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