Three wind parks in France and Italy for Allianz

Allianz's renewable energies portfolio is growing to include another two wind parks in France and one in Italy / Combined capacity of 50 megawatts will generate energy for more than 28,000 households / Total investment in renewable energy reaches 1.7 billion euros

Allianz Capital Partners (ACP) has acquired two wind parks in France and one in Italy on behalf of Allianz. In the Pas-de-Calais administrative region in northern France, ACP bought the 8-megawatt "Frévent" project and the 12-megawatt "Ivergny" project. The wind farms were acquired by Allianz from a subsidiary of the Paris-based renewable energy development company Eurowatt SCA. Both projects are currently under construction with expected completion dates during the first half of 2014.

In Italy, ACP bought the "Erchie" wind farm project in the Puglia region in the South of Italy. It has a capacity of 30 megawatts and has been in operation since December 2012. The seller is the renewable energy development company Eneris SA.

With a combined capacity of 50 megawatts, the three plants are expected to generate sufficient energy to power more than 28,000 average European households.

"We are very pleased about these additional assets in our portfolio and that we are able to continue on our growth path," said David Jones, Head of Renewable Energy at Allianz Capital Partners. "The acquisition of these wind parks takes our investment in renewables to 1.7 billion euros, further consolidating Allianz’s position as one of the world’s leading financial investors in renewable energy."