28 July 2022
Under the leadership of Hamburg partner Carsten Bartholl, the international law firm Taylor Wessing provided comprehensive legal advice to Encavis Asset Management AG ("Encavis AM") on the acquisition of the wind farm Auras in Germany. The wind farm is located in the Brandenburg municipality of Auras, south of Cottbus. It consists of four Vestas wind turbines with hub heights up to 169 m. The total generation capacity is 21.8 megawatts (MW). The turbines were commissioned between November 2021 and February 2022. In total, the four turbines annually supply 24,800 households with green electricity and save 27,400 tonnes of harmful CO2. All turbines can benefit from support under the German Act on Renewable Energy (EEG). The park was developed and realised by the UKA Group.
The Luxembourg special fund Encavis Infrastructure Fund II (EIF II), managed by HansaInvest Lux., is acquiring the park. The fund is distributed exclusively by Bayern LB and is tailor-made for credit institutions, primarily German savings banks and cooperative banks, whose investment strategy places particular emphasis on sustainability and stable cash flows for their investments. Including the acquisition of Auras wind farm, Encavis AM realises an investment volume of more than one billion euros for its special bank fund EIF II.
Taylor Wessing has already successfully advised Encavis AM on various transactions involving renewable energy generation assets in recent years.
About Encavis Asset Management AG:
Encavis Asset Management AG offers institutional investors tailor-made portfolios and fund solutions for investments in the growth market of Renewable Energies. The Company has been successfully investing in this sector since 2006, covering the entire value chain from asset sourcing to the operational management of investments.
Encavis Asset Management AG is a wholly owned subsidiary of MDAX-listed Encavis AG and, as part of the Encavis Group, benefits from their many years of experience and broad industry network.
Encavis AG is one of the leading independent power producers (IPPs) in the field of Renewable Energies in Europe. Encavis Group's total generation capacity currently adds up to more than 3.2 gigawatts (GW), which corresponds to a total saving of 1.4 million tonnes of CO2 per year.
Legal Advisors Encavis AM
Taylor Wessing Germany: Lead partner Carsten Bartholl (Partner), Jasmin Schlee (Associate), Thorsten Eggert (Associate), Pauline Peters (Professional Support Lawyer), all Corporate Energy, Dieter Lang (Partner, Public Law, Permitting), Dr. Markus Böhme (Salary Partner, Energy Regulatory, Düsseldorf), Hannes Tutt (Salary Partner), Galya Stareva (Professional Support Lawyer), both Real Estate, all Hamburg, unless otherwise indicated
Inhouse Encavis AM: Friedrich Adrian (Head of Legal), Max Lilge (Lead Investment Manager)
by multiple authors