Led by Hamburg partner Alexander Koch, international law firm Hogan Lovells has advised Encavis Asset Management on the acquisition of the Clogheravaddy onshore wind farm in County Donegal, Ireland.
The purchase was made for the new Encavis Infrastructure Fund IV (EIF IV), a special bank fund launched jointly with BayernInvest Luxembourg S.A. at the end of 2021 and offered exclusively by BayernLB.
The wind farm with a total capacity of 23.6 megawatts (MW) consists of a total of seven turbines. The first three turbines have already been in operation since 2019. In the first quarter of 2022, another three turbines will be commissioned and it is planned that the last turbine will go into operation in mid-2023. The wind farm will supply 24,800 households with green electricity and save 26,400 tonnes of CO2 per year. In addition, this investment contributes to Ireland’s energy policy of meeting at least 80 per cent of the country’s electricity needs from renewable sources by 2030.
Encavis Asset Management AG offers institutional investors customised portfolios and fund solutions for investments in the growth market of renewable energies. The company has been successfully investing in this sector since 2006 and covers the entire value chain from asset sourcing to the operational management of the plants.
Encavis Asset Management AG is a fully-owned subsidiary of SDAX-listed Encavis AG and, as part of the Encavis Group, benefits from the Group’ s many years of experience and broad industry network.
Hogan Lovells comprehensively advised Encavis Asset Management throughout the entire transaction, in particular on the due diligence as well as on the purchase agreement negotiations, the financing and merger control issues.
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