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Allianz buys wind parks in Germany and France

Global Banking And Finance 1 News

With the purchase of three wind farms in Europe, Allianz is further expanding its investment portfolio in renewable energies.
Allianz has bought two recently completed wind farms in France from Nordex SE. The projects “Croquettes” and “Longchamp” together have a generating capacity of 22 megawatts, enough power to cover the needs of around 11,000 households. In addition, Allianz has purchased a wind farm from WKN AG in the German state of Lower Saxony which has a capacity of 16 megawatts and will satisfy the electricity demands of around 9,000 households.
“We are pleased to be able to add these three wind parks to our portfolio,” said David Jones, CEO of Allianz Specialised Investments, which manages the Allianz Renewable Energy Partners funds. “Germany and France are important markets for us, and we expect to further expand in these and other key European markets.”
Renewables have represented an important part of the Allianz investment strategy since 2005. Just last year, investments in wind and solar power exceeded the 1-billion-euro mark. This volume was further increased in the last 12 months by nearly 25 percent. With these three acquisitions, Allianz now has a total of over 1.3 billion euros invested in renewable energies and owns 34 wind farms with a total capacity of 658 megawatts and 7 solar parks with a total capacity of 74 megawatts, generating sufficient electricity for over 350,000 European households.
“We are expecting the demand for wind and solar power to continue to grow in the future, and we expect to continue to expand our investment in this growing sector,” added David Jones.

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The statements contained herein may include statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertain-ties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words “may”, “will”, “should”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “potential”, or “continue” and similar expressions identify forward-looking statements.
Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in the Allianz Groupfs core business and core markets, (ii) performance of financial markets, including emerging markets, and including market volatility, liquidity and credit events (iii) the frequency and severity of insured loss events, including from natural catastrophes and including the development of loss expenses, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) the extent of credit defaults, (vii) interest rate levels, (viii) currency exchange rates including the Euro/U.S. Dollar exchange rate, (ix) changing levels of competition, (x) changes in laws and regulations, including monetary convergence and the European Monetary Union, (xi) changes in the policies of central banks and/or foreign governments, (xii) the impact of acquisitions, including related integration issues, (xiii) reorganization measures, and (xiv) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences. The company assumes no obligation to update any forward-looking statement.
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