Encavis, BayernLB open EUR600mn renewables fund

Encavis Asset Management and BayernLB have launched the Encavis Infrastructure Fund V (EIF V), which targets insurance companies, pension funds, and retirement funds. OMP Capital provided seed funding of EUR50 million (US$51.7 million).

The fund purchases assets that generate, convert, and store renewable energy. Its diverse portfolio includes wind farms and solar parks. EIF V wants to invest in related technologies such as battery storage and possibly power-to-gas solutions across Europe.

Encavis AM will select, audit, and operate wind and solar facilities. BayernInvest Luxembourg S.A. will act as fund manager while BayernLB will be responsible for soliciting investors.