Encavis AM closes financial investment of special banks fund EIF II

• The asset management arm of German wind and also solar farms driver Encavis AG (ETR: CAP) has actually finished the investment phase of its special banks fund Encavis Infrastructure Fund II (EIF II), at a volume of EUR 1.13 billion (USD 1.19 bn).

The alternate investment fund is marketed specifically by Munich-based bank BayernLB as well as is managed by Hansainvest Lux SA. It is currently completely spent and owns 680 MW of renewable resource assets, Encavis Asset Management AG claimed on Monday.

EIF II's portfolio includes 22 wind farms and also 21 solar farms situated in Germany, France, the Netherlands, Spain and Finland. Its latest investment was the purchase of 45 MW of solar park tasks in Germany's Rhineland-Palatinate state, which are because of go online in 2022 and 2023.

"The target volume was plainly exceeded and also finally reached 480 million euros of equity," said Herbert Schadler, elderly director Alternative Investments at BayernLB.

EIF II was gone for completion of 2017. Its followers are EIF IV, which is also targeting banks, and also EIF V, which is made for insurer and also pension plan funds.