German renewable energy manufacturer Enercon has launched a financing fund for wind farm operators.

The Enercon Finance Solutions Fund is anchored by MEAG, the asset manager of the Munich Re Group, with Mountstreet appointed as portfolio manager.

The fund provides financing to operators planning new projects with Enercon wind turbines, as well as those seeking to refinance existing wind farms and release equity capital, with mezzanine loans of up to €10m (£8.6m) per project.

The launch of the fund addresses the demand for equity capital in wind farm financing, said Dr Michael Jaxy, chief financial officer of Enercon.

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“With the Enercon Finance Solutions Fund, we are strategically expanding our portfolio with a flexible financing component and helping our customers implement projects more efficiently, optimise capital structures, preserve liquidity, and retain ownership of their wind farms,” he said. “This financing solution is unique in the market.”

The fund is also part of the Enercon Renewable Energy Fund, an umbrella fund, the company said.

Enercon said Universal Investment Luxembourg is responsible for the fund at a regulatory level, while BKN Capital manages the investment vehicle used to deploy the capital raised.

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“Together with ENERCON, we have developed a tailored debt financing solution for the German-speaking wind energy market’, says Antonia Jobke, managing director of MEAG. “The combination of long-standing industry expertise and institutional financing know-how enables the efficient financing of new and existing wind energy projects while supporting the further expansion of renewable energy.”

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