Encavis purchases 65.5 MW of solar capacity in France for unique fund

• The property administration subsidiary of German solar and also wind farm driver Encavis AG (ETR: ECV) has actually gotten 6 solar parks with an incorporated capacity of 65.5 MW in western and also southern France for its special fund Encavis Infrastructure III (EIF III).

The ground-mounted solar parks were put into operation between 2018 and 2020 and also now supply virtually 26,000 households with tidy electricity under lasting power acquisition arrangements (PPAs), Encavis said on Monday.

EIF III owns 80% of the ranches as well as the job designer holds the staying 20%.

The EIF III, which purchases wind and also solar assets in Germany, France, Austria as well as Finland, is solely had by German public insurer Versicherungskammer Group which made a EUR-150-million (USD 174.03 m) dedication to the fund at the beginning of this year.

"The expansion of renewable resources is a main element of our investment as well as sustainability method. With this investment we are additional enhancing our portfolio and making an active payment to stay clear of carbon dioxide emissions," claimed the insurance company's CFO Isabella Pfaller.