First equity investments in renewable energy in Poland / Energy production capacity of c.190 MW / 11 million tonnes of CO2 reduction by 2050 / Clean energy for over 260,000 Polish households per year.
Allianz Capital Partners on behalf of Allianz insurance companies (“Allianz”) has closed the acquisition of its first renewable energy installations in Poland from ENERTRAG, consisting of nine sites split into two projects, Dargikowo and Karlino. With these additions, Allianz now owns more than 100 wind and solar parks. Construction works for Dargikowo and Karlino have already started. The commissioning of the projects is planned for 2021 and 2022, respectively.
ENERTRAG is a leading project developer and independent power producer. ENERTRAG is constructing the portfolio, including its 250 MW grid infrastructure, on behalf of Allianz and will provide long-term operational services.
Dargikowo and Karlino are located in the north-west of Poland. With a production capacity of 133 MW for Dargikowo and 53 MW for Karlino, these wind parks can provide renewable energy for approximately 260,000 average households of the region per year. This would be enough to supply a city the size of Poznań with clean energy for one year.
“We are very delighted to announce our 100th and 101st renewable project which are at the same time our first equity investments in Poland. Our new wind parks will make an important contribution to increase the share of renewable energy in Poland and help to reach Allianz´s goal of a carbon-neutral portfolio by 2050 while delivering stable cash yields to Allianz insurance clients,” says Christian Fingerle, Chief Investment Officer at Allianz Capital Partners.
“With the energy generated by the Dargikowo and Karlino projects upon completion, 11 mil-lion tonnes of CO2 can be saved by 2050 compared to the current energy mix in Poland,” says Georg Höfler, Director at Allianz Capital Partners, who led the transaction.
Gunar Hering, board member of ENERTRAG, adds, “We are very proud of our contribution to the Polish energy transition and are looking forward to construct more wind and solar plants in the new future.” Simon Hagedorn, Vice President Finance of ENERTRAG, comments: “ENERTRAG’s success in the Polish renewables auction last year and the subsequent project sale to Allianz is proof of ENERTRAG’s high quality project development.”
Allianz’s equity investments in the renewable energy sector amount to 9 solar farms and 92 wind parks located in Austria, Finland, France, Germany, Italy, Poland, Portugal, Sweden and the United States. The wind and solar parks of Allianz in Europe generate enough renewable energy to supply over 1.2 million households.