Union Investment Buys Wind Farms in France and Ireland

HAMBURG, GERMANY-Union Investment has acquired two additional wind farms for its UniInstitutional Infrastruktur SICAV-SIF infrastructure fund. Located in Greneville en Beauce, France, and Gibbet Hill (County Wexford) in Ireland, the onshore wind farms have been in operation since July.

The vendor of the wind farm in Greneville, comprising eight turbines with total output of 24 megawatts, is VSB Energies Nouvelles, a wholly-owned subsidiary of Dresden-based WSB Group. Union Investment acquired the Gibbet Hill wind farm, which consists of six turbines and has a rated output of 15 megawatts, from project developer ABO Wind of Wiesbaden. The turbines are from leading manufacturers Vestas and Nordex. Ten months after inception, Union Investment’s first infrastructure fund now holds four European wind farms in three different countries representing a signed investment commitment of approximately $197 million (EUR 143M).