350 megawatts across 11 onshore German wind projects is the number at the center of Sosteneo's latest deal. The Generali Investments subsidiary has agreed to take a majority stake in the portfolio, which will sit inside a newly created operating platform called ENOVA Generation. About 140MW (40% of the total) is already generating revenue and will produce cash flows from the acquisition date; the remaining 210MW is in build-out or approaching a Final Investment Decision.
The seller is ENOVA Value, a set of joint ventures between Omnes Capital (acting through its Capenergie 4 and Capenergie 5 funds) and ENOVA Power. ENOVA retains a minority stake and takes on full operational management. Completion is expected in the third quarter of 2026, pending customary approvals.
The contracted revenue picture
Every one of the 11 projects is remunerated under Germany's Renewable Energy Sources Act (EEG) for a 20-year term. Sosteneo describes Germany as Europe's largest and most active repowering market, pointing to an aging onshore fleet and a narrowing window to qualify for the traditional EEG tariff.
Fund II and the deployment timeline
Fund II's strategy centers on European clean energy infrastructure at or near the construction-ready stage. This transaction is its first investment. The fund has raised €300 million ($345.9 million) against a €1 billion target, putting it 30% toward its capital goal. Sosteneo's Fund I was fully deployed earlier this year.
The repowering thesis shapes the market choice. Sosteneo says a typical project quadruples a wind farm's capacity while cutting turbine count in half. That per-unit ratio drives the run-rate economics across the EEG-remunerated fleet.
Umberto Tamburrino, Sosteneo's managing partner and CEO, said the deal demonstrates the firm's ability to source and execute attractive opportunities in a market he described as growing and increasingly complex. It is also Sosteneo's first entry into Germany.