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Germany

Germany

Allianz fund to buy 57MW German projects

GERMANY: Allianz Global Investors has agreed to buy nine onshore wind projects in Germany from investment vehicle the DIF Renewable Energy Fund.

The investment wing of the German insurer is to buy the projects, with a combined capacity of 57MW, through its Renewable Energy Fund. It expects to close the deal at the end of November.

The projects are spread across states of Sachsen-Anhalt, Sachsen, Hessen, Brandenburg and Mecklenburg-Vorpommern.

The Allianz Renewable Energy Fund was launched as a closed-end fund for institutional investors in 2012 and closed in September 2013. Investors committed approximately EUR 150 million to the fund.

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