Sosteneo opens its second fund with a 350MW German wind portfolio
Forty per cent of the capacity is already generating.
Sosteneo SGR, the infrastructure arm of Generali Investments, has agreed to acquire an eleven-project onshore wind portfolio in Germany of about 350MW, the first investment of its second flagship fund.
The assets are being bought from joint ventures between Omnes Capital and ENOVA Power GmbH and will be held in a new platform, ENOVA Generation. Sosteneo takes the majority stake; ENOVA retains a minority position and will run the portfolio operationally.
About 40% of the 350MW is already operating and generating cashflow. The remaining 60% is under construction or approaching final investment decision, so the fund is taking build-out risk on its first German investment but not development risk.
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