Dentons advises Commerz Real on acquisition of stake in EnBWs portfolio comprising 14 wind farms

Global law firm Dentons has advised impact fund klimaVest set up by Commerz Real AG on the acquisition of a 49.9 percent stake in a wind farm portfolio of EnBW. The portfolio comprises 14 wind farms with 47 turbines in Germany and provides an installed capacity of 133 megawatts. The wind farms generate 300 gigawatt hours of electricity per year, which is enough to cover the needs of more than 100,000 three-person households in Germany.

The closing of the transaction is subject to approval by the relevant antitrust authorities and is expected to occur in spring 2021. Both parties have agreed not to disclose the purchase price.

The transaction is the sixth investment of the new impact fund klimaVest of Commerz Real AG. klimaVest will be used for long-term investments and will invest exclusively in assets whose economic activities make a positive and measurable contribution to achieving environmentally sustainable goals. By pursuing its investment objective, the fund aims to contribute to the transition to a low-carbon, sustainable economy and to the achievement of the long-term limitation of global warming in accordance with the 2015 United Nations Framework Convention on Climate Change.

Commerz Real is a subsidiary of Commerzbank AG and specializes in real asset investments. Commerz Real currently manages assets of approximately €34 billion and has around 180 entrepreneurial investments.

Partners Dr. Thomas Dörmer and Dr. Tim Heitling and their team regularly advise on transactions in the energy and infrastructure sector. The team has a long-standing client relationship with Commerz Real.