Commerz Real announces acquisition of two wind projects in Germany
Commerz Real Capital Management Company (Kapitalverwaltungsgesellschaft, KVG) has acquired two wind farms with a combined capacity of 24 MW located in Brandenburg, Germany from UKA Group through its "CR Institutional Renewable Energies", a closed-end special fund launched in autumn 2016.
The projects involved are the 13.8 MW Schenkendöbern I wind farm, which consists of four Vestas wind turbines that were commissioned between June 2016 and January 2017, and the 9.9 MW Wustermark I wind farm, which consists of three Vestas V126 3.3-MW wind turbines and has been in operation since 2016.
For the Schenkendöbern project, the technical operational management of the turbines will continue to be the responsibility of UKB Umweltgerechte Kraftanlagen Betriebsführung GmbH.
The seller, UKA Umweltgerechte Kraftanlagen (UKA), is a leading German wind farm developer based in Meißen in the Free State of Saxony and will continue to provide the wind farms’ technical management.
Commerz Real, a subsidiary of Commerzbank AG, Germany’s second largest bank, was advised on legal and tax aspects of the transaction by Watson Farley & Williams LLP, Hamburg.
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