Tuesday 13 October 2020

Allianz reaches 100 wind and solar parks milestone

Allianz Capital Partners, one of Allianz Group's asset managers, has announced the latest acquisition of its first renewable energy installations in Poland, helping the group reach a milestone of 100 wind and solar parks.

Located in the northwest of Poland, the new wind parks have an energy production capacity of 190MW, enough to power approximately 260,000 homes.

The firm says with the energy generated by these two projects upon completion, 11 million tonnes of carbon dioxide can be saved by 2050.

The commissioning of the projects, which are developed by the energy producer ENERTRAG, is planned for 2021 and 2022.

Christian Fingerle, Chief Investment Officer at Allianz Capital Partners, said: "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."

Allianz’s investments in renewable energy amount to nine solar farms and 92 wind parks located in Austria, Finland, France, Germany, Italy, Poland, Portugal, Sweden and the US.