Allianz adds 50MW of wind power to portfolio

GERMANY: Allianz Capital Partners (ACP), the alternative investment arm of the German insurance giant, has bought two wind farms in France.

A Gamesa G90 2MW turbine being installed at the Echie project in Italy
A Gamesa G90 2MW turbine being installed at the Echie project in Italy

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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.

The two French wind farms were bought from a subsidiary of Paris-based renewables development company Eurowatt. Both projects are due to be completed next year.

Allianz's Italian wind farm has been in operation since December 2012, and it was bought from development company Eneris.

The two acquisitions have taken Allianz's investment in renewables to EUR 1.7 billion, and its portfolio now includes more than 40 wind farms.

In June,  Allianz bought two wind farms in France and one in Germany. ACP has acquired the recently constructed Fontfroide and Bruyère Grand wind 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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