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Munich Re Buys 30 Megawatts of Onshore Wind Farms in Sweden

Munich Re (MUV2), the biggest re-insurer, is buying three wind farms in Sweden with a combined capacity of 30 megawatts as it earmarks 2.5 billion euros ($3.2 billion) to invest in renewable-energy assets.

MEAG Munich Ergo AssetManagement, Munich Re’s investment arm, is buying the grid-connected farms located in central and southern Sweden from local developer Eolus Vind AB (EOLUB), MEAG said in an e-mailed statement. No terms were given.

To contact the reporter on this story: Stefan Nicola in Berlin at snicola2@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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