ACP in 2013 bought nine wind parks in four European markets, taking the group's total investment in RE to over €1.75bn.

Its most recent acquisition was the 24MW Cottbuser See wind farm in Germany's Brandenburg state.

"We are pleased with the progress made during 2013 in a European wind market which is becoming increasingly more competitive for investment and the renewable energy sector will remain one of the preferred alternative investment asset classes for Allianz in 2014," says David Jones, head of RE at ACP.

"As