CMS advises Sosteneo on entry into German market with acquisition of 350 MW wind portfolio

Hamburg – Sosteneo SGR S.p.A. (Sosteneo), part of Generali Investments, has signed an agreement to acquire a majority interest in a portfolio comprising eleven onshore wind projects in Germany with a total capacity of approximately 350 megawatts. The acquisition will be made on behalf of funds under Sosteneo's management.

The projects will be brought together under the newly established ENOVA Generation platform. The sellers are joint ventures between Omnes Capital, acting on behalf of its Capenergie 4 and Capenergie 5 funds, and ENOVA Power GmbH. ENOVA will retain a minority interest and assume full operational management of the platform. The transaction is subject to customary approvals and is expected to close in the third quarter of 2026.

A CMS team led by Dr Holger Kraft provided Sosteneo with comprehensive advice on the transaction. CMS’s advice included extensive legal due diligence, W&I insurance and the corporate and transactional structuring of the investment, including the reinvestment, carve-in and carve-out. Green Giraffe again acted as the financial advisor to Sosteneo.

The transaction marks Sosteneo’s entry into the German market and represents the first investment by the clean energy infrastructure investment manager’s second flagship fund. Approximately 40 percent of the portfolio is already operational, while the remaining projects are either under construction or approaching the final investment decision stage.

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