An Article 9 fund advised by EB – Sustainable Investment Management GmbH (EB-SIM) is investing in an onshore wind farm project in Lithuania for the first time. The fund is buying 100 per cent of Vėjų Spektras UAB’s shares from Quaero European Infrastructure Fund, a fund managed by Quaero Capital, as part of a share deal. The project has been in operation in the municipality of Ṧilutè since 2012. It has an installed capacity of 21.5 megawatts and is approximately 30 kilometers from the Baltic coast.
The wind farm in Ṧilutè supplies 85,000 households with electricity and saves 7,300 tonnes of CO2 equivalents per year. With this new investment, EB-SIM is further expanding its Europe-wide expertise in renewable energies. It now manages investments in approximately 50 projects with a total capacity of about three gigawatts in Germany and seven other European countries.
EB-SIM's proven track record of investing in renewable energy projects was a decisive factor in it winning the project. Its high level of commitment to sustainably developing energy portfolios in new markets and improving environmental impact were equally important.
"This project shows that we are continuing to grow internationally. Our aim is to achieve a double return for investors – a positive ecological and a positive economic return," says Dr Bernhard Graeber, Managing Director and Head of Alternative Assets at EB-SIM. “In addition, with this first investment in a Lithuania project, we are further diversifying our portfolio."
EB-SIM acts as advisor to the article 9 fund making the investment and will be in charge of actively managing the Lithuanian investment through its experienced asset management team. To this end, it will work closely with the local operations team.
The turbines are maintained by Enercon, which also provided the technology: nine Enercon E82 and one E53 wind turbines are in operation in Ṧilutè.
"We are very pleased to hand over the wind farm in Ṧilutè to such a competent partner as EB-SIM," says Sébastien Bourget, Managing Partner at Quaero Capital. "EB-SIM has convincingly demonstrated that it is well versed in new markets. It understands the regulatory conditions as well as the local market dynamics. EB-SIM can also expertly structure such deals, improve financial returns and thus fulfil the expectations of all stakeholders."
Both parties have agreed not to disclose the sale price.
About Quaero Capital
Quaero Capital is an independent asset management company owned by its employees, with about EUR 3 billion of assets under management. Headquartered in Geneva, it has offices in Paris, Zurich, Luxembourg and London. Its different entities are regulated by the Swiss Financial Market Supervisory Authority (FINMA), the French Financial Market Authority (AMF) and the UK Financial Conduct Authority (FCA). Quaero Capital is signatory to the United Nations Principles for Responsible Investment (UNPRI), member of the Institutional Investors Group on Climate Change (IIGCC), the French Asset Management Association and signatory of CDP (Carbon Disclosure Project). Quaero Capital has created an ESG framework to commit on integrating environmental, social and governance (ESG) issues both in its investment process and in the management of its investments.
Since 2015, Quaero Capital has been providing equity, through its infrastructure funds, to companies involved in water, social, digital, telecom, transportation, or energy projects. Quaero Capital invests in Europe and targets mid-size companies with significant capex needs to fulfil the construction, renovation, or extension of their physical infrastructures.
Further information about Quaero Capital is available at www.quaerocapital.com
The wind farm in Ṧilutè supplies 85,000 households with electricity and saves 7,300 tonnes of CO2 equivalents per year. With this new investment, EB-SIM is further expanding its Europe-wide expertise in renewable energies. It now manages investments in approximately 50 projects with a total capacity of about three gigawatts in Germany and seven other European countries.
EB-SIM's proven track record of investing in renewable energy projects was a decisive factor in it winning the project. Its high level of commitment to sustainably developing energy portfolios in new markets and improving environmental impact were equally important.
"This project shows that we are continuing to grow internationally. Our aim is to achieve a double return for investors – a positive ecological and a positive economic return," says Dr Bernhard Graeber, Managing Director and Head of Alternative Assets at EB-SIM. “In addition, with this first investment in a Lithuania project, we are further diversifying our portfolio."
EB-SIM acts as advisor to the article 9 fund making the investment and will be in charge of actively managing the Lithuanian investment through its experienced asset management team. To this end, it will work closely with the local operations team.
The turbines are maintained by Enercon, which also provided the technology: nine Enercon E82 and one E53 wind turbines are in operation in Ṧilutè.
"We are very pleased to hand over the wind farm in Ṧilutè to such a competent partner as EB-SIM," says Sébastien Bourget, Managing Partner at Quaero Capital. "EB-SIM has convincingly demonstrated that it is well versed in new markets. It understands the regulatory conditions as well as the local market dynamics. EB-SIM can also expertly structure such deals, improve financial returns and thus fulfil the expectations of all stakeholders."
Both parties have agreed not to disclose the sale price.
About Quaero Capital
Quaero Capital is an independent asset management company owned by its employees, with about EUR 3 billion of assets under management. Headquartered in Geneva, it has offices in Paris, Zurich, Luxembourg and London. Its different entities are regulated by the Swiss Financial Market Supervisory Authority (FINMA), the French Financial Market Authority (AMF) and the UK Financial Conduct Authority (FCA). Quaero Capital is signatory to the United Nations Principles for Responsible Investment (UNPRI), member of the Institutional Investors Group on Climate Change (IIGCC), the French Asset Management Association and signatory of CDP (Carbon Disclosure Project). Quaero Capital has created an ESG framework to commit on integrating environmental, social and governance (ESG) issues both in its investment process and in the management of its investments.
Since 2015, Quaero Capital has been providing equity, through its infrastructure funds, to companies involved in water, social, digital, telecom, transportation, or energy projects. Quaero Capital invests in Europe and targets mid-size companies with significant capex needs to fulfil the construction, renovation, or extension of their physical infrastructures.
Further information about Quaero Capital is available at www.quaerocapital.com
