Munich Re Buys 30 Megawatts of Onshore Wind Farms in Sweden

Munich Re, 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, MEAG said in an e-mailed statement. No terms were given.