Allianz acquires wind farm in Sweden
Allianz Capital Partners has announced the acquistion of the Maevaara wind farm in Sweden. Allianz total investments in renewable energies will rise to over 1.5 billion euros.
Allianz will provide a loan facility to construct the wind farm during 2013 and 2014 and take over ownership of the asset once it is successfully commissioned and O2 will manage the technical and commercial operation of the wind farm under a management agreement.
With the new investment, Allianz's commitment to the European renewable energy sector exceeds 1.5 billion euros in 36 wind farms and 7 solar parks which together generate sufficient renewable energy to supply over 400,000 households.
For a period of ten years, all electricity produced by the windfarm will be sold to Google under a power purchase agreement announced on 4th June 2013. Google will use the windfarm's output to power its datacenter in Finland with renewable energy.
Allianz Capital Partners is the Allianz Group's in-house investment platform for alternative investments, with an investment volume of around 8.7 billion euros. Allianz Capital Partners has offices in Munich, London, New York and Singapore.
Allianz's current renewable energy portfolio is located in France, Germany, Italy and now in Sweden. Allianz Capital Partners is planning to further expand its renewable energy investments both in size and geographically over the coming years with a focus on European markets.
Source: Allianz
