Commerz Real invests in 169-MW wind, solar portfolio in France

• German investment supervisor Commerz Real AG on Tuesday claimed that it has taken a 49% risk in a 169.1-MW renewable resource portfolio in France from regional asset manager Mirova, an affiliate of Natixis Investment Managers.

The portfolio comprises 9 onshore wind farms and one solar park. All of the assets function, with the bulk located in the south of France in between the metropolitan areas of Montpellier as well as Toulouse. The nuclear power plant were linked to the grid between 2016 as well as 2021 and all of them get feed-in tariffs for a duration of 15 or 20 years.

Apart from broadening Commerz Real's overall portfolio as well as presence in France, the investment also strengthens its participation with German utility EnBW (ETR: EBK) whose French subsidiary Valeco is the proprietor of the remaining 51% of the portfolio.

Commerz Real, the genuine assets arm of German lender Commerzbank AG (ETR: CBK), carried out the offer through its influence fund Klimavest which got in the French market in 2021 with the acquisition of an onshore wind ranch not far from the Atlantic shore.

"The purchase mirrors our approach of broad diversification of assets with various geography, type of power generation, pay model as well as year of building," Timo Werner, fund supervisor of Klimavest, noted in the Tuesday declaration.

Commerz Real did not divulge the financial details of the transaction.