Allianz buys two German wind parks(3)

The acquisitions, which total 36MW of generating capacity, come after the firm bought a neighbouring wind farm in January.

Allianz Global Investors (AllianzGI) has acquired two wind parks in Brandenburg, Eastern Germany.

They comprise the onshore parks of Rehfeld and Göllnitz-West, which have respective electricity generating capacities of 12 megawatts (MW) and 24MW. Both plants are located close to the wind park of Proschim, an 11MW facility acquired by the firm earlier this year.

“Germany currently offers many first-rate opportunities for investments in onshore wind parks. The wind resource in Brandenburg is especially favourable, which leads to many benefits and the fact that more than 3000 wind turbines have been erected in this region speaks for itself,” said Armin Sandhövel, chief investment officer for infrastructure equity at AllianzGI.

The transactions will be funded by the Allianz Renewable Energy Fund (AREF), which was launched in 2012 and closed in September 2013 on €150 million. The vehicle is managed by Allianz Capital Partners, the alternative investment arm of German insurer Allianz.

All three plants were planned and built by the German wind park developer UKA Umweltgerechte Kraftanlagen. They will produce roughly 125,000 megawatt hours of electricity, enough to meet the demand of about 38,000 three-person households.

The deals marks the fourth acquisition by AREF over the last nine months, after it bought an Italian solar plant in December 2013, the Proschim wind farm in January 2014 and a UK wind farm in June.

Allianz Capital Partners has a total renewable energy capacity of more than 1000MW, with a portfolio comprising 45 wind farms in Germany, France, Italy and Sweden and seven solar parks in Italy and France.