Commerz Real's climate impact fund hits EUR 1bn

German investment manager Commerz Real AG announced on Monday that its Klimavest impact fund for renewable energy and sustainable infrastructure investments has reached an equity capital volume of EUR 1 billion (USD 1.07bn).

The open-ended private investor fund was launched at the end of 2020 and currently has 33 wind and solar parks that had an output of 661 GWh in the 2021/2022 business year, as well as 10 photovoltaic (PV) projects under development. The assets are located in Germany, France, Spain, Finland and Sweden.

Looking ahead, Commerz Real will aim to expand the fund to at least EUR 25 billion, of which around EUR 10 billion will be equity capital. In December 2022, Commerz Real agreed to invest in five solar parks in Sweden totalling 246 MWp to diversify Klimavest's portfolio.

“Given the great significance of renewable energy supply in Europe we expect to see a further acceleration of the energy transition coupled with new and attractive investment opportunities for investors,” said Timo Werner, fund manager for Klimavest.

The Klimavest fund will target a return of between 3.5% and 4.5% in 2023.

(EUR 1.0 = USD 1.068)

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