a.s.r. real estate launched a renewable energy sector fund on July 1. This fund, named ASR Dutch Green Energy Fund I, invests primarily in solar and wind farms in the Netherlands.
The fund has a current size of approximately EUR 400 million and an ambition to grow to EUR 800 million. The fund also offers the possibility to invest in energy storage in batteries. In this way, a.s.r. real estate wants to contribute to the energy transition.
The ASR Dutch Green Energy Fund I is a.s.r. real estate’s sixth sector fund and the first sector fund for infrastructure. In this fund too, ASR Levensverzekering N.V. acts as anchor investor. Over the past period, a portfolio consisting of four wind farms and a solar farm has been put together. The fund is open to professional investors.
Through the new fund, professional investors can give an impulse to the energy transition in the Netherlands. The ASR Dutch Green Energy Fund I has a term of 20 years and aims to achieve a fund size of at least EUR 800 million. The ASR Dutch Green Energy Fund I portfolio currently consists of four Dutch wind farms (wind farms Nieuwe Hemweg, Strekdammen, Jaap Rodenburg, and Prinses Ariane) with a total of 48 wind turbines and a solar farm with 60,000 solar panels. The renewable energy fund currently provides 583 GWh of energy annually, which can provide power to over 200,000 households.
“With this fund we want to further contribute to the energy transition together with investors. By establishing the ASR Dutch Green Energy Fund I, we further expand our real estate asset management platform. With this, we are fulfilling our mission to create perpetual value for our investors and society at large.”
Dick Gort, CEO a.s.r. real estate
The ASR Dutch Green Energy Fund I’s objective is to invest in renewable energy. The fund seeks to invest at least 95% of its portfolio in investments that directly or indirectly contribute to the energy transition in the Netherlands. In addition, the fund aims to align the fund’s investments with the EU Taxonomy and regulations where possible, thus making a substantial contribution to the environmental objective of ‘climate change mitigation’ as described in Article 10 of the EU Taxonomy Regulation. Source: a.s.r.
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