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Umweltkontor launches first wind fund for foreign plant
1 April 2003
The finance division of German renewables developer Umweltkontor Renewable Energy has launched its first wind fund for a foreign wind station. Umweltkontor Finance is offering stakes in a closed-end fund for the Spanish Aragon wind station near Zaragoza. The 99 MW plant (comprising 132 NEG Micon 750 kW NM750/48 turbines) has been in operation since January. The minimum investment is EUR 5,000. Larger stakes must be multiples EUR 2500. Provided average wind speed is 7.2 m/s, investors should receive dividend distributions of 300% over the predicted plant lifetime of 20 years, Umweltkontor says. The project, is expected to achieve a pre-tax return on investment of 10% and investors can expect additional benefits from the double taxation agreement between Germany and Spain.
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