Commerz Real invests in 246-MWp Swedish portfolio of solar projects

German investment manager Commerz Real AG on Monday said it has agreed to invest in five solar parks in Sweden which are at an advanced stage of development and will have an installed capacity of 246 MWp.

The projects, set to join the grid in 2023 and 2024, are developed by Helios Nordic Energy AB, a portfolio company of Norwegian renewable energy investor Magnora ASA (OSE:MGN). Four of the parks are based in the Greater Stockholm area and one is located on the outskirts of Gothenburg.

The deal is aimed at expanding and diversifying the portfolio of Commerz Real’s Klimavest impact fund which will now include solar assets in Sweden, a press release says. The financial details of the investment were withheld.

This comes as the latest transaction between Commerz Real and Helios this year. The Swedish firm in May agreed to sell 69 MWp of domestic solar projects to Commerz Real’s Institutional Renewable Energies Fund II.

Commerz Real is the real assets arm of German lender Commerzbank AG (ETR:CBK). It currently manages more than 50 solar power plants and over 40 onshore and offshore wind farms in Germany and Europe.

The investment manager earlier in December bought its first agrivoltaics solar project in Germany.

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