Commerz Real climate impact fund reaches €1bn milestone

[Image: Sander Weeteling/Unsplash]

Commerz Real’s Klimavest impact fund has reached a volume of €1 billion in equity capital just two years after its launch. In the medium term the open-ended fund aims to reach a volume of €10 billion.

The fund’s portfolio currently comprises 33 operational wind farms and solar parks as well as 10 solar park project developments in Germany, France, Spain, Finland and Sweden.

Klimavest is a European Long-term Investment Fund – “ELTIF” for short – and plans to develop a broad-based portfolio of sustainable infrastructure and plants for renewable energy generation.

Klimavest invests in real assets which make a demonstrable contribution to the avoidance of greenhouse gas emissions. In doing so the fund takes into account the sustainability parameters in accordance with the current EU Taxonomy Regulation as well as the transparency requirements placed on an impact fund in accordance with the EU Disclosure Directive.

 “Sales partners and private investors reflect the ongoing demand for investments in renewable energy,” said Klimavest fund manager Timo Werner.

“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,”

In the 2021/2022 business year the fund’s existing plants generated a total of 661 gigawatt-hours of green electricity. According to figures from Germany’s Federal Statistical Office, this volume is sufficient to cover the electricity requirements of more than 200,000 German households.