German independent power producer Norddeutsche Energie has raised almost €37m through a bond placement to buy a portfolio of six wind farms.
The projects total 36.95MW in size and comprise four projects made up of 14 turbines and two single-machine schemes.
Norddeutsche Energie said the acquisition will raise its portfolio to 270MW.
The company plans plans to double its assets under management over the next two years, benefiting from exclusive access to a pipeline from a major unnamed developer in Germany.
It is also targeting investments abroad.
The bond was placed privately with an unnamed German pension fund through its subsidiary NEAG Norddeutsche Energie Invest 3.
The term is for 20 years and the bond is collateralised by a portfolio of operational and permitted wind projects in Germany.
Consultancy Capcora advised Norddeutsche Energie on the transaction.
Norddeutsche Energie chief executive Sebastian Adler said: “The closing of this transaction represents another important milestone in our short history.
“The new funds are a catalyst for our portfolio growth. We thank the Capcora team for their professional support.”