With the final closing of the Allianz Renewable Energy Fund 2 („AREF2“) on November 15, 2016, the fund reached a volume of € 350 million. The money will mainly be invested in existing European wind and solar plants on behalf of institutional investors, including insurance companies, pension funds, foundations, churches and family offices.
After outperforming the target volume of the second closed-end renewable energy fund of Allianz Global Investors (AllianzGI) by far, Armin Sandhövel, CIO Infrastructure Equity, and his team are now actively seeking deals. On November 9, they have already acquired „Bohult“. The Swedish wind park has been operational since April 2014 and produces more than 40 GWh per year.
Sandhövel is optimistic about the pipeline of future projects because of the great number of wind and solar projects that have been planned and developed in the recent past: “Against this backdrop, the secondary market of existing plants is becoming more and more important to us and we are currently seeing very promising acquisition opportunities in Germany, France, Great Britain and Scandinavia.” Chances are good that AllianzGI will be able to invest the full volume of the fund in a relatively short time, he thinks.
Once AREF2 is fully invested, the Infrastructure Equity team at Allianz Global Investors will manage roughly € 1.6 billion in renewable energy and infrastructure projects.
Philipp Kronsbein / AllianzGI