Allianz Global Investors, the group’s investment arm, took control of La Coste, an operating plant of six arrays in southern France’s Bordeaux region, from German developer BayWa.
La Coste is added to the Allianz Renewable Energy Fund (AREF), joining a string of wind and solar plants on the €150m ($187m) fund’s roster.
Allianz said: “Based on its comparatively high solar irradiation, this French solar park portfolio is another premium investment and has allowed us to achieve our technical and geographical diversification goals with respect to the investment of AREF’s total shareholder capital…within just twelve months.”
