DGAP-News: Encavis Asset Management AG / Key word(s): Funds/Acquisition Encavis Asset Management AG 2021-10-18 / 07:05 The issuer is solely responsible for the content of this announcement.
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Corporate News Encavis Asset Management AG further expands solar portfolio in Western and Southern France for Versicherungskammer . Further acquisition for Special Fund Encavis Infrastructure III - owned exclusively byVersicherungskammer Group . Installed capacity of 65.5 megawatts in total provides green electricity for almost 26,000 households
Neubiberg/Munich, October 18, 2021 - Encavis Asset Management AG (Encavis AM), a subsidiary of the SDAX listed solar and wind farm operator Encavis AG, acquires six solar farms in Western and Southern France with a total generating capacity of 65.5 megawatts (MW) for the Versicherungskammer Group. The acquisition takes place within the Encavis Infrastructure Fund III (EIF III), a special fund exclusively owned by the Versicherungskammer Group and advised by Encavis AM.
The renewable energy farms, which were commissioned between 2018 and 2020, are covered by long-term agreements at attractive conditions. As part of a joint venture, the Luxembourg special fund holds 80 percent of the six solar farms, while 20 percent remains with the project developer who also built all six ground-mounted photovoltaic entities. Encavis AM covers the commercial management of the portfolio.
Isabella Pfaller, Chief Financial Officer of Versicherungskammer Group: "The expansion of renewable energies is a central component of our investment and sustainability strategy. With this investment we are further enhancing our portfolio and making an active contribution to avoid CO[2] emissions."
Karsten Mieth, Speaker of the Management Board of Encavis Asset Management AG: "We are consistently diversifying the portfolio of this special fund with this commitment in France."
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 SDAX-listed Encavis AG (ISIN: DE0006095003, Prime Standard, Ticker symbol: ECV) and, as part of the Encavis Group, benefits from their many years of experience and a broad industry network. Encavis AG is one of the leading independent power producers (IPPs) in the field of Renewable Energies in Europe. The Company acquires and operates solar power plants and (onshore) wind farms in Germany and nine other European countries. The Encavis Group's total generation capacity currently accounts to almost 3.0 gigawatts (GW). Encavis AG is a signatory of both UN Global Compact and UN PRI network and the environmental, social and governance performance has been rated by ISS ESG and MSCI ESG, two of the world's leading ESG research and rating agencies and received the ISS ESG Prime-Label (B) und MSCI Rating 'AA'. Please visit our website www.encavis-am.com for additional information.
About Versicherungskammer Group:
The Versicherungskammer Group is Germany's largest public insurer and now the seventh-largest primary insurer in Germany. In fiscal year 2020, it generated total premium income of 9.36 billion euros. With its regional companies, the Company operates in Bavaria, the Palatinate, Saarland, Berlin and Brandenburg. Together with the other public insurers, the health insurer of the S-Finance Group operates nationwide. The social commitment of the Versicherungskammer Group is of great importance. The sustainability-oriented strategy of supporting voluntary institutions and initiatives, especially in the field of prevention and safety, has been strengthened in recent years by two foundations, the Versicherungskammer-Foundation and the Versicherungskammer-Culture-Foundation. In addition, the Versicherungskammer Group has been awarded the "Career and Family" certificate as a family-friendly company for the third time. It has around 6,900 employees, including around 270 trainees.
Contact persons for this topic:
Encavis AG
Tanja Van den Wouwer Head of Sustainability & Communications Phone +49 (0)89 44230 6025 tanja.van_den_wouwer@encavis.com Versicherungskammer Group
Inge Sommergut Corporate Communications Phone +49 89 21 60-4106 inge.sommergut@vkb.de
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2021-10-18 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
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1241276 2021-10-18
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October 18, 2021 01:05 ET (05:05 GMT)
