Insurance giant Allianz has bought 50MW of wind assets in France and Italy, further swelling its renewable energy portfolio.
Allianz Capital Partners
(ACP) – the German group’s investment arm – acquired two French wind projects totalling
20MW from developer Eurowatt. Both are currently being built and are expected
to be completed by mid-2014.
ACP also bought the
already-operating, 30MW Erchie wind farm in Puglia, southern Italy, developed
David Jones, head of
renewable energy at ACP, said: “The acquisition of these wind parks takes our
investment in renewables to €1.7bn
($2.3bn), further consolidating Allianz’s position as one of the world’s leading
financial investors in renewable energy.”