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impacts is a specialist asset manager investing in the opportunities arising from the transition to a sustainable global economy.
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We build power generation assets and we invest in wind and solar, which again has the largest impact on on the environment.
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Since inception, the team has made over 35 investments in 11 European countries, amounting to nearly €2 billion invested into nearly two gigawatts of renewable energy projects.
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My name is Ken I'm, managing director of Itera Energy, based in close to Frankfurt. I'm also a shareholder of the company and I'm managing director of the joint venture with.
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We are here in Munster on our construction side of our 10 megawatt project, the wind farm with three turbines. And this is the construction site for turbine number three. In this project, we are installing a turbine with 3.2 megawatt nominal power. Studies are saying that each turbine will produce around six million kilowatt hours per year.
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We reach about 18 million kilowatt hours per year for the whole park. We were looking for a partner that left us independent and had several approaches over a period of six months, and finally a colleague introduced us to where we were very happy to find them. We were attracted to it because we realised early on our discussion that we shared the same vision for the German market. It ticked all the right boxes.
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They shared our vision. They had a proven track record. They had an interesting pipeline and they had the right management skills to build out the business and the cherry. On top of the cake was the fact that had already identified several add on acquisition opportunities for which they required a strong financial investor with their industrial rights skill set.
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Germany is the largest renewable energy market in Europe and a core market for our impacts. We were looking to acquire or partner with a developer with a track record of success and an attractive pipeline of projects.
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We have shown that we are able to produce financial returns and make a positive impact with our investments, and we are regarded as a consistent and trustworthy partner in the industry.
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The general strategy of the funds is to find projects that are late stage development and to move them as promptly as we can from an early stage interest into construction and operations.
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Typically, what we try and find is developers that have not only projects that are about to enter construction, but if they have a development portfolio, that certainly helps too. And we call those platforms. It is a platform.
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What impacts brings is international muscle and financing. And so, in working with them, we were able to bring their local talent and bring in international expertise to help them drive their business.
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We are pleased with our progress in Germany with it. With the acquisition of ACON, we added 70 megawatts of late stage development
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and the wider pipeline of projects. They really have a broad and deep understanding of the issues that are related to permitting windmills We like that they are really fast with their decisions and really important is that they are solving problems together with us looking for solutions.
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Since we started investing in 2005, we've built up a deep understanding of permitting and construction processes, and we truly understand how to mitigate development risk through deal structuring and a diversified portfolio approach. Germany is not only the largest, but also one of the most attractive markets for renewable in Europe, Germany has today around 130 gigawatts of renewable energy capacity,
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and this is expected to grow by about 25% over the coming five years.
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Germany has a stable, reliable regulatory environment and a strong public support for a transition to a sustainable economy. We now have a local team of 25 professionals and a large portfolio of projects in construction ready to build and in late stage and Greenfield development.
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The investments that we make with it in Germany produce 100% green energy. This project will offset 6.8 tonnes of carbon dioxide each year and produce green energy to 5000 households every year. By 2022 we expect to produce green energy to supply over 60,000 households every year in Germany. When making these investments, we consider the environmental impact our projects may have,
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and this varies from looking at the local residents and an impact on them and their house to wildlife, to fauna and to the local environment. In general, Investors also really like the environmental impacts of our investments as we're not simply buying operational assets, we're actually bringing new projects into and through construction, which is truly helping Europe to achieve its net zero ambitions.
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So, for instance, in our latest report, a $10 million investment into the new energy strategy resulted in over 5000 tonnes of CO two emissions avoided
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impacts Team is is really motivated and knowledgeable. We have a long term perspective with them, which is very important in our business, and we have a spirit of open and fair working together with them. This project has been a real success.
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It has proven to us again how important it is that you find the right partner
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where you have a complimentary skill set, a clear vision and a clear alignment of the long term interest to ensure that both parties are working into the right direction. We believe that this model is the successful recipe for investing in an evolving renewable energy market in Europe.
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Thank you.
