Featured in Bags of cash – 11-2022

So much cash, so little land

German institutional solar investors manage portfolios amounting to tens of millions of euros. Investor groups have high standards and need one thing above all else: big projects in which to invest. These are scarce in Germany and competition from other funds is fierce, so investors have developed three strategies to identify projects.
Anumar put this 120 MW power plant into operation on 150 hectares in southern Germany in 2021. Finding such large projects in the country is not easy, according to institutional investors. | Photo: Anumar

Christoph Lüken considers himself lucky. “You could say Witznitz is a stroke of luck,” says the head of portfolio management infrastructure at the Hansainvest Real Assets investment subsidiary of the Signal-Iduna insurance group. Witznitz is a solar project south of Leipzig comprising 650 MW of installed capacity on 500 hectares of land in a former …

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