Union Investment infra fund acquires wind farms in Ireland and France

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Union Investment infra fund acquires wind farms in Ireland and France

Union Investment, through its infrastructure fund 'UniInstitutional Infrastruktur SICAV-SIF', has acquired two wind farms located in Greneville en BeauceFrance, and Gibbet Hill (County Wexford) in Ireland. The onshore wind farms have been in operation since July.

The vendor of the wind farm in Greneville, comprising eight turbines with total output of 24 megawatts, is VSB Energies Nouvelles, a wholly-owned subsidiary of Dresden-based WSB Group.

The Gibbet Hill wind farm, which consists of six turbines with total output of 15 megawatts, from project developer ABO Wind of Wiesbaden. The turbines are from leading manufacturers Vestas and Nordex.

Ten months after inception, Union Investment's first infrastructure fund now holds four European wind farms in three different countries representing a signed investment commitment of approximately €143 million.

Christoph Schumacher, a member of the management team at Union Investment Institutional Property GmbH, which acts as investment adviser to the fund, said:
"We are pleased that the fund has achieved the planned broad diversification across different turbine manufacturers and also different feed-in systems within such a short space of time.We want to expand the portfolio in Germany, the UK and France in particular. The first solar park will probably be transferred to holdings sometime this year."

In August 2013, Union Investment made a second closing of its infrastructure fund launched last year, collecting additional €100 million in equity for total investment capacity of €350 million. The focus will be on wind farms (onshore projects), making up around 70% of total assets. An investment of up to 30% in photovoltaic systems is also planned.

Union Investment is the investment arm of the DZ Bank Group and part of the cooperative financial services network. It is headquartered in Frankfurt.

List of country news

Country news

  • November 08, 2013

    Alstom to sell 20-30 % stake in transport business

    French power and engineering company Alstom said it would lay off 1,300 employees and sell a stake in its transport business to raise between €1-2 billion. Read more
  • November 20, 2013

    VINCI Concessions and Eiffage open to traffic Prado Sud tunnel in Marseille

    VINCI Concessions has announced that Société Prado Sud, a consortium composed of VINCI SA (5%), VINCI Concessions (53,5%) and EIFFAGE (41,5%) opened to traffic the Prado Sud tunnel in Marseille on November 16, 2013. Read more
  • November 21, 2013

    Bids for Vinci car park business due by end-November

    Reuters has informed that sources said that first-round bids for Vinci's parking-concession business are due by end-November, and are expected to value the firm around €2 billion. Read more
  • November 25, 2013

    Vinci Concessions signs Martinique public transport PPP

    Martinique's public transportation company, SMTCSP, and Caraibus SAS, an entity linked to Vinci Concessions,  signed on Friday  November 22th the PPP contract for the design, build, finance, maintain and operate (DBFMO) of a public transport system in the island of Martinique. Read more
  • November 29, 2013

    DIF Infrastructure III reaches closing on a French Fire Station PPP Project

    On  November 28th 2013 DIF has reached commercial and financial closed for a Fire Station PPP project in partnership with Vinci Construction France. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.