Allianz Wind Farm Deal Takes Renewable Capacity Above 1 Gigawatt

Allianz SE (ALV), Europe’s largest insurer, bought a wind farm in northeast France, bringing its renewable-energy investments to more than 1,000 megawatts.

Allianz bought the 20-megawatt wind project in the Haut Marne region of France from developer Eole-Res SA, Munich-based Allianz Capital Partners GmbH said today in a statement on its website. The project is being built and is expected to start working in the middle of next year.

Allianz’s clean-energy capacity is enough to supply the annual needs of more than half a million homes. It has 42 wind farms in Germany, Italy, France and Sweden, and seven solar parks in Italy and France, according to the statement.

To contact the reporter on this story: Louise Downing in London at ldowning4@bloomberg.net

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

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