Branicks Group launches EUR-300m renewables fund

German real estate holding company Branicks Group AG (ETR:BRNK) announced today it is entering the renewable energy market with the launch of its first dedicated fund which will seek to raise EUR 300 million (USD 325.2m).

Branicks Renewable Energy Fund SCS SICAV-RAIF is focused on technologically established and high-yield photovoltaic (PV) systems and onshore wind power plants in Northern, Central and Southern Europe and also utilises technologies such as rooftop systems and charging stations, a press statement said.

The initiative marks the first concrete result of the recently launched cooperation with German wind and solar farm operator Encavis AG’s (ETR:ECV) asset management arm.

In April, Branicks and Encavis Asset Management AG (Encavis AM) agreed to combine their expertise in the institutional business segment to establish an independent “renewables” asset class. The partnership is aimed at developing and offering investment vehicles in the field of solar and wind power plants in Germany and other European countries.

Branicks specialises in office and logistics real estate. It managed properties in the commercial portfolio and institutional business segments with a market value of EUR 13.1 billion as of March 31.

(EUR 1 = USD 1.084)

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