DGAP-News: Altira finances Europe's largest solar park (84.5 MW) in record time ++ 2011: 202 MW already structured and financed with a volume of EUR 440 million ++ Institutional solar energy fund 'Stabilität 2010' will shortly be fully invested ++ New fun
(firmenpresse) - DGAP-News: Altira AG / Key word(s): Funds
Altira finances Europe's largest solar park (84.5 MW) in record time
++ 2011: 202 MW already structured and financed with a volume of EUR
440 million ++ Institutional solar energy fund 'Stabilität 2010' will
shortly be fully invested ++ New fund is set up
05.09.2011 / 10:42
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Ground was broken beginning September on the second phase of construction
of the FinowTower solar park, and hence - once this area is completed - of
Europe's largest solar park. The Frankfurt-based asset management company
Altira Group is providing the financing for this project via the
'Stabilität 2010' German solar energy fund, which it launched. Once the
second phase is completed, the facility, in the town of Finowfurt in
Germany's Brandenburg region, will have total power output of 84.5
megawatts, making it the largest solar park in Europe. It will provide
power for an average of 23,500 households, eliminating 1.55 million tonnes
of carbon dioxide over 20 years as compared with a standard coal-burning
power plant. FinowTower II is scheduled to be connected to the grid in
December 2011.
During the past six months, Altira's Renewables Management team, in close
cooperation with its investors, has structured and financed a solar
portfolio with a capacity of over 202 megawatts. This corresponds to a
total investment volume of just shy of EUR 440 million. One example of the
projects that have already been carried out is the Cottbus-Drewitz solar
park, with a capacity of 29.5 megawatts and an investment volume in excess
of EUR 60 million.
The 'Stabilität 2010' solar energy fund, launched at the beginning of 2011,
will already be fully invested in October of 2011. 'Right from the start,
our focus had been on large projects and, thanks to close and valuable
collaboration with our project partner solarhybrid, we were able to ensure
and structure a pipeline containing a variety of projects under
development', notes Peter Brumm, one of the two leaders of Altira's
Renewables Management team. He adds: 'The complementary expertise of our
team members and their network of contacts in the industry made it possible
for the highest quality to be purchased at prices that were acceptable. In
that way, we together were able to achieve unusually high transparency and
quality in our portfolio, which should contribute to an above-average
return.'
Final closing for Altira Group's EUR 112.5 million fund 'Stabilität 2010'
was in February 2011after a short subscription period. The fund's capital
was entirely placed among selected insurers. Due to the high investor
demand, a follow-up product is already being designed. 'Over the past
several months, demand by institutional investors for project investments
in renewable energies has once again strengthened. What investors
especially value is the low correlation to equities markets and the steady,
predictable cash flows. For investors such as insurance companies and
pension funds, this is more and more important, particularly in times when
the overall situation on the financial markets is uncertain', remarks
Altira Group CEO David Zimmer. 'Altira has extensive expertise and an
excellent track record in the Renewable Energy area, and has thus
positioned itself as one of the first points of contact for institutional
investors.'
++ The Altira Group
The Altira Group is an owner-managed, exchange-listed asset management
company focusing on alternative investment strategies for institutional as
well as private investors. In that area, it concentrates on both
established as well as newly-developing, forward-looking growth markets in
connection with its core areas of focus
__ German ,Mittelstand'&Restructurings
__ Renewable Energies&Natural Resources
__ Africa.
++ Altira Renewable Management GmbH
Altira Renewables Management GmbH is an internationally active investor in
the Renewable Energies area with a long-term investment horizon. Our core
competence lies in optimising projects, from a consistent legal, tax and
financial perspective.
Through the Altira Group, which structures financial products in accordance
with its clients' needs, we enable institutional investors and family
offices to participate in the growth of this asset class, which harbours
such great promise for the future. At the same time, project developers
find in us a skilled partner, with particular strength in implementation
and follow-through. Based on our many years of project experience working
together as a team, we provide solution-oriented support for all phases of
project implementation, using our active network of global contacts with
manufacturers, suppliers, consultants and developers, among others. This
combination makes possible a maximum in quality and an assurance of
follow-through for all parties, in the minimum amount of time.
Today, the Altira Renewables Management team has more than 27 years'
experience in the area of Renewable Energies. During this time, it has seen
through solar and wind energy projects generating capacity of 369 MW, for a
total investment of approximately 735 million euros. Thus, in 2011 alone,
we are structuring and financing over 200 MW, with a total of around EUR
440 million in investment, an amount that includes FinowTower, currently
Europe's largest solar park, with 85 MW of capacity (September 2011).
Contact:
Altira Aktiengesellschaft
Alexandra zu Knyphausen
Tel: +49 69 719 12 80 0
E-Mail: investor-relations(at)altira-group.de
End of Corporate News
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Language: English
Company: Altira AG
Grüneburgweg 18
60322 Frankfurt / Main
Germany
Phone: +49 (0)69 719 12 80 - 0
Fax: +49 (0)69 719 12 80 - 011
E-mail: info(at)altira-group.de
Internet: www.altira-group.de
ISIN: DE0001218063
WKN: 121806
Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Entry
Standard in Frankfurt
End of News DGAP News-Service
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138179 05.09.2011
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