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15% increase in generation in 2022 resulted from investments in European wind farms and solar parks
Wind farms and solar parks managed by Commerz Real produced more than three terawatt-hours (3TWh) of electricity in 2022, an increase of 15% on the previous year.
Commerz Real, the real assets subsidiary of Commerzbank, said the increased generation was the result of investments in European wind farms and solar parks for institutional fund products, as well as for the retail fund Klimavest.
An annual generation of 3TWh meets the annual arithmetical consumption of nearly one million two-person households, in Germany, based on figures from Germany’s Federal Statistical Office for 2020.
Nearly 2TWh was accounted for by the shareholdings of the funds and mandates of Commerz Real itself.
“Thanks to the ongoing demand on the part of our institutional and private investors, we have been able to continually expand our renewable energy portfolios. In doing so we are diversifying in terms of geography, technology, manufacturers and the marketing channels for the generated electricity.
“Our investments are making an active contribution to the European energy transition,” said Yves-Maurice Radwan, Head of Green Deal Infrastructure at Commerz Real.
Commerz Real also expects growth in electricity production in the current year.
The asset manager recently acquired a shareholding in a French wind and solar portfolio (installed capacity of 169MW), five solar parks to be constructed in Sweden (installed capacity of 246MW) and five wind energy plants in Finland (installed capacity of 28.5MW) for its funds. |
