Encavis Asset Management has now raised over €200m for Encavis Infrastructure Fund II, with almost €75m added recently by institutional investors such as Kreissparkasse Reutlingen.
The fund is managed by Hansainvest Lux and is a special vehicle marketed exclusively by BayernLB.
Encavis said nearly two thirds of the fund are currently invested in solar farms and the rest in wind farms.
“All the renewable energy plants generate stable returns and are located in mature regional markets with reliable investment conditions,” it said.
About 60% of the solar farms are in Germany, 35% in the Netherlands and 5% in France, it said.
The projects have total generation capacity of 232MW.
Kreissparkasse Reutlingen management board chairman Michael Blasius said: “We appreciate the wide diversification of the portfolio across energy generation types, locations and countries.
“The EIF II certainly scores well, among other things, because of the existing statutory feed-in tariffs and thus easily calculable returns that fit in well with our planning horizons.
“BayernLB and its partners did an excellent job in preparing the regulatory framework, addressing both the risks attached to this asset class as well as the relevant reporting aspects.
“Other than that, it is also of main importance to us to make a valuable contribution to the energy transformation with our underwriting.”