Union Investment infrastructure fund reaches target size of EUR 320 million

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Union Investment infrastructure fund reaches target size of EUR 320 million

Union Investment has now fully reached the investment target for its infrastructure fund UniInstitutional Infrastruktur SICAV-SIF, launched in 2012.

Carrowleagh Wind Farm on Ireland’s Atlantic coast is the final major investment for the Union Investment fund, which is invested exclusively in plants for generating renewable energy. This transaction takes the infrastructure fund’s total investment to €320 million (US$358 million), spread across nine wind farms and solar parks in Germany, France, the UK and Ireland.

Dr. Christoph Schumacher, a member of the management team at Union Investment Institutional Property GmbH, said:

“We have invested in the generation of renewable energy at European level to meet the needs of institutional investors and are very satisfied with the results. The infrastructure fund is broadly diversified and exploits the good conditions for wind and solar energy at the various locations.”

The vendor of Carrowleagh Wind Farm is the Irish company Aeropower Wind Energy Ltd. Tapbury Management Ltd. of Ireland is responsible for ongoing operation of the facility. The onshore wind farm comprises 16 E-70 gearless wind turbines made by ENERCON, which were connected to the grid back in 2012 and have a rated output of 37 MW. This enables them to produce an estimated 97.8 GWh of electricity a year – enough wind energy to cover the annual requirement of some 305,000 households.

Union Investment was advised on the acquisition by London-based Green Evolution Capital and law firm McCann FitzGerald of Dublin. Aeropower Wind Energy Ltd. was advised by Berlin based First Berlin Securities Brokerage and law firm Eversheds.

The fund's portfolio is targeted at investments in core European countries, primarily Germany, France and the UK. Investments in Scandinavia and Poland can also be included on a selective basis. 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.

List of country news

Country news

  • October 05, 2016

    Royal Free London NHS Foundation Trust seeks partner for medical waste project

    The Royal Free London NHS Foundation Trust has announced it is seeking to appoint a partner to provide and deliver a strategic solution for the Sterile Services and Endoscopy Decontamination Facilities for the Trust. Read more
  • October 04, 2016

    Bluefield Solar Income Fund Limited refinance long-term facility

    Bluefield Solar Income Fund Limited (Bluefield) has announced the financial close of a £187 million (US$241 million) long-term debt facility and a £30 million (US$39 million) short-term revolving credit facility (RCF). Read more
  • October 04, 2016

    UPP Preferred Bidder by University of Hull for £130 million investment in new student accommodation

    University Partnerships Programme (UPP), a provider of on-campus infrastructure and support services in the UK, has announced that it has been appointed as preferred bidder to deliver a new student accommodation scheme for the University of Hull valued at around £130 million (US$168 million). Read more
  • October 03, 2016

    GIC and GSA acquire student accommodation portfolio

    In a partnership between GSA, the global student accommodation leader and GIC, Singapore’s sovereign wealth fund, GSA has announced that it has acquired a 7,150-bed UK student accommodation portfolio from funds managed by Oaktree Capital Management, L.P. Read more
  • September 29, 2016

    HICL Infrastructure raises £113.4 million

    HICL Infrastructure Company has announced that it has raised gross proceeds of £113.4 million (US$147.2 million) through the issue for cash, subject to listing, of 66,727,515 Ordinary Shares of 0.01 pence each in the company (the issue). 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.