AllianzGI invests € 350 million in renewable energy

The 13 MW wind park Bohult is the first acquisition of AREF2. (Photo: AllianzGI)
The 13 MW wind park Bohult is the first acquisition of AREF2. (Photo: AllianzGI)

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

Similar Entries

Allianz Global Investors confirms the second investment for the Allianz Renewable Energy Fund 2. Shortly after the acquisition of the Swedish wind park “Bohult” in November, the purchase of the German wind park portfolio from PNE Wind AG was completed today. The seller retains 20 percent of the portfolio and is mandated to manage the commercial and technical business operations. The capacity of the negotiated portfolio amounts to 142 MW, and the transaction was led by Thomas G. Engelmann.

Building new wind farms in the U.S has added $13 billion a year on average to the American economy over the past five years. According to information released today by the American Wind Energy Association (AWEA), that’s more money each year than the annual revenue generated by Major League Baseball.

The global wind and solar company Mainstream Renewable Poweris investing $177.5 million of equity in the pan-African renewable energy generation platform Lekela Power, of which $117.5 will come from other investors such as the private grant making foundation Rockefeller Brothers Fund ($ 10 million), while $60 million will come from Mainstream itself.

Charotte – Duke Energy Renewable Services today announced it has partnered with DTE Energy Company via a five-year service agreement to operate and maintain DTE's seven wind parks totaling 400 megawatts (MW).