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France

France

Allianz continues wind acquisition strategy

FRANCE: Allianz Capital Partners (ACP), the alternative investment arm of the German insurance giant, has taken its wind portfolio beyond 1GW with the acquisition of a 20MW project in France from Eole-RES.

ACP has acquired the Haut Chemin project, located in the Haute Marne region in north-east France. The wind farm, which comprises ten 2MW turbines, is scheduled to come online in the summer of 2014.

The acquisitions have taken Allianz's investment in renewables to around EUR 2 billion, and its portfolio now includes more than 40 wind farms in Germany, France, Italy and Sweden.

Last month, ACP bought the 8MW Frévent, and the 12MW Ivergny projects in the Pas-de-Calais region of northern France. Parent-group Allianz has also acquired the 30MW Erchie project, in Puglia, southern Italy.

In June, ACP bought two wind farms in France and one in Germany. It acquired the Fontfroide and Bruyère Grand projects in southern France, which have a combined capacity of 23.5MW, from EDF Energies Nouvelles.

The Dahme wind project in Germany, located 80 kilometres south of the capital Berlin, is much bigger with a capacity of 76.5MW. The seller was Spanish energy producer Eolia Renovables.

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