Allianz acquires first wind parks in Austria

Allianz expands its regional focus and further diversifies its portfolio / Investments in Renewable Energy exceed 2.5 billion euro milestone / Capable of supplying the annual electricity needs of 800,000 European households, enough to power a city the size of Barcelona

Allianz Capital Partners (ACP) has further expanded its renewable energy investments both in volume and geographically. By acquiring four wind parks ACP has entered the Austrian wind market and exceeded 2.5 billion euros in renewable energy investments.

ACP has entered an agreement to acquire the four Austrian wind projects Scharndorf III, Zistersdorf Ost, Ladendorf und Großkrut-Hauskirchen-Wilfersdorf, which are located within a 70 kilometer radius of Vienna. The 21 turbines have a generating capacity of 65 megawatts. ACP acquired the facility from ImWind, one of Austria’s biggest wind farm operators with a portfolio of 320 megawatts in operation and ready to be built.

Two wind parks were recently completed and they are now part of the Allianz portfolio. The other two projects are currently under construction and these acquisitions will be completed once they enter commercial operation in 2016. ImWind will be the operator for all four wind parks. The parties have contractually agreed not to disclose the purchase price.

"We are very pleased to enter the Austrian market and this acquisition is a major step: we are passing the 2.5 billion euro investment milestone and it provides further diversification to our portfolio", said David Jones, Head of Renewable Energy at Allianz Capital Partners. "We are delighted to start a successful relationship with ImWind and we look forward to working with them on the successful long term operation of these wind farms."

"Allianz is a well-known brand in Austria and a clear long term investor. We will complete the construction of the two wind parks and will endeavor to ensure an optimal long-term operation of the projects", said Thomas Huemer, Management of ImWind.

With this investment, Allianz’s commitment to the European renewable energy sector exceeds 2.5 billion euros in 54 wind farms and 7 solar parks. ACP’s wind and solar portfolio generates sufficient renewable energy to supply over 800,000 households which is comparable to a city the size of Barcelona. Allianz’s current renewable energy portfolio is located in France, Germany, Italy, Sweden and now in Austria.