German investment house Commerz Real has acquired a stake in a portfolio of 14 onshore wind farms belonging to EnBW.
The portfolio comprises 47 wind turbines with a total capacity of 133MW located at various sites in the German states of Baden-Wurttemberg, Brandenburg, Rhineland-Palatinate and Saarland.
The wind farms were developed and built by EnBW and the majority of them went into operation in 2017.
Commerz Real’s stake, for its Klimavest impact fund, amounts to a 49.9% holding in the portfolio.
EnBW will continue to manage, service and maintain the wind farms and market the green power they generate.
The wind farms have a collective annual output of 300 gigawatt-hours.
All of them benefit from a feed-in tariff under the German Renewable Energy Sources Act.
Completion of the transaction is subject to clearance by relevant regulatory authorities and is expected for spring 2021. Both parties have agreed not to disclose the purchase price.
EnBW chief financial officer Thomas Kusterer said: “In Commerz Real, we are delighted to have found an investor with a long-term commitment to ENBW’s projects.
“The partnership covers the entire operating life of the wind farms. We plan to invest the sale proceeds in new growth projects, primarily in the renewable energy segment.”