Insurance giant Allianz in talks over offshore wind investments

Insurance and asset management giant Allianz is in discussions with major utilities to invest in the offshore wind sector – but the risks involved mean that it needs it to be more financially attractive to do so.

Allianz Specialised Investments chief executive David Jones says: “We are starting to look seriously now at offshore wind.

“In principle, we will do it, and we have a dialogue with utilities, but we will only do it as a minority partner with a utility that has a track record — and if the return has a premium.”

Jones warns that Allianz has “no strategic requirement” to invest in offshore wind. Allianz has already invested €1.3bn ($1.62bn) in onshore wind and solar assets since 2005.

“We are not a utility and we have…

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