POELLATH advises Enercon Wind Onshore Deutschland (Sub-fund 1) on the acquisition of five wind farms

“ENERCON Wind Onshore Deutschland (Sub-fund 1)” has acquired five German wind farms that are already in operation. The wind farms comprise 31 ENERCON wind turbines with a total effective output of 79 megawatts. Together, they generate around 135 million kilowatt hours of electricity per year, which is equivalent to the average consumption of almost 40,000 German households.

Enercon Wind Onshore Deutschland (Sub-fund 1) was initiated as part of a fund platform for investors to further develop the marketing of wind onshore projects in Germany and Europe. The fund was designed as a closed-end, reserved alternative investment fund (S.A., SICAV-RAIF). The fund attracted two large insurance companies under public law as anchor investors.

The fund’s investment advisor is EB-SIM, a wholly-owned subsidiary of Evangelische Bank, whose special profile includes successful asset management and, in particular, the successful integration of economic and ESG factors.

EB-SIM is one of the leading asset managers for sustainable investments. The Kassel-based company is a subsidiary of the Evangelische Bank (EB). For more than 30 years, value-based asset management was one of EB’s core businesses and was spun off into EB-SIM as an independent business unit in December 2018. EB-SIM employs over 40 people and manages assets of approximately EUR 5.4 billion. It exclusively offers sustainable investments in equity, bond and multi-asset strategies, as well as private debt and real assets, to institutional clients and also to private clients via wholesale marketing. Its investment strategies consistently align with the Sustainable Development Goals (SDGs) of the United Nations and the climate targets of the European Union.

Since June 2021, EB-SIM is a member of the German federal initiative Impact Investing (BII). By establishing the impact investing ecosystem in Germany, it aims to lay the foundation for additional capital to be used to address social and environmental challenges.

POELLATH provided comprehensive legal advice on the acquisition with the following team:

• Jens Hörmann (partner, lead, M&A, private equity, Munich).
• Gerald Herrmann (partner, tax law, Munich)
• Dr. Marcel Guenoub (partner, real estate law, Berlin)
• Dr. Matthias Werner (counsel, real estate law, Berlin)
• Alexander Pfefferler (senior associate, M&A, private equity, Munich)
• Dr. Lena Hummel (associate, M&A, private equity, Munich)