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France

France

Allianz extends wind portfolio with Nordex deal

FRANCE: German insurance company Allianz today announced it had acquired two wind farms from Nordex totalling 22MW in generating capacity.

The deal for the "Croquettes" and "Longchamp" wind farms is the latest in long line of French project sales by the German turbine manufacturer to Allianz.

Nordex sold its first French wind farm to Allianz in April 2009, the 12.5MW Les Cent Jalois in the Aisne region in northern France. Other deals since then have included the 2010 sale to Allianz of three wind farms totalling 37.5MW, developed by Nordex on a turnkey basis.

In addition to the "Croquettes" and "Longchamp" deal, Allianz also announced today that it had acquired a 16MW wind farm from WKN in the German state of Lower Saxony.

"Germany and France are important markets for us, and we expect to further expand in these and other key European markets," said David Jones, CEO of Allianz Specialised Investments, which manages the Allianz Renewable Energy Partners funds that acquired the projects.

Allianz now has a total of over €1.3 billion invested in renewable energy, and owns 34 wind farms with a total capacity of 658MW.

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