Allianz Keeps Investing In Renewables, Buys 3 Wind Farms
March 27 2012 - 5:11AM
Dow Jones News
German insurer Allianz SE (ALV.XE) said Tuesday it has so far
invested a total of EUR1.3 billion in renewable energies, after
buying three additional wind farms.
Two of those are newly-built Nordex sites in France, which
deliver around 22 megawatts, and one is in Germany with a capacity
of 16 megawatts.
"We expect demand for wind and solar energy will continue to
rise and therefore, we want to keep growing in this market,"
Allianz Specialized Investments Chief Executive David Jones
said.
Germany and France are important markets, Jones said.
"We will continue to expand in these and other European key
markets," he added.
At the start of 2011, Allianz's investments in wind and solar
energy surpassed the EUR1 billion mark, and the company increased
that amount by nearly 25% in the past 12 months.
In total, Allianz now owns 34 wind farms with a total capacity
of 658 megawatts and seven solar parks with a total capacity of 74
megawatts.
-By Alexandra Edinger, Dow Jones Newswires, +49 69 29 725 112,
alexandra.edinger@dowjones.com