Commerz Real and EnBW with its French subsidiary Valeco are further expanding their strategic partnership in the field of renewable energy generation. For its impact fund Klimavest, the real assets subsidiary of Commerzbank acquired 49 % of the shares in a French wind and solar portfolio. This consists of nine onshore wind farms and one solar park with a total capacity of 169.1 megawatts. The remaining 51 % is held indirectly by Valeco. The seller of the stake is a fund managed by Mirova, an affiliate of Natixis Investment Managers focused on sustainable investments.
According to Eurostat figures from 2019, the potential annual electricity production of the Klimavest investment corresponds to the average annual consumption of around 35,000 French private households. Calculated according to the parameters of the German Federal Environment Agency and the International Financial Institutions with reference to the United Nations Framework Convention on Climate Change, this represents a potential avoidance of more than 20,000 tonnes of greenhouse gas emissions.
Source: commerzreal.com on the 18th of October 2022
https://www.commerzreal.com/en/press-release/press-release/commerz-real-deepens-cooperation-with-enbwvaleco-by-investing-in-nine-wind-farms-and-a-solar-park-i/