Allianz hits 1GW with French wind buy

German insurance giant Allianz has taken its renewable energy assets past the 1GW mark after buying a 20MW wind farm under construction in France.

Allianz Capital Partners (ACP) – the group’s investment arm – bought the Haut Chemin project in Haut Marne, northeast France.

It acquired the wind farm from developer EOLE-RES, which will operate the plant when it enters commercial operation, scheduled for summer 2014.

Allianz now owns 42 wind farms in Germany, France, Italy and Sweden and seven solar plants across in Italy and France.