Allianz Global Investors confirms the second investment for the Allianz Renewable Energy Fund 2 (“AREF2“). 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.
Armin Sandhövel, CIO Infrastructure Equity, commented on the successful business deal: “German wind parks are important anchor investments of a balanced portfolio for AREF2. The acquired project offers first-class characteristics that are important to us, such as the high technical quality of the facilities as well as regional diversification across federal states. Overall, Germany remains a solid market for renewable energies in the long-term and will remain highly competitive under these circumstances." In order to ensure European-wide diversification, the team around Sandhövel is currently exploring further investment opportunities, especially in Scandinavia, France and Great Britain.
The subscription period for AREF2 ended on November 15, 2016. The total fund volume of approximately 350 million Euros will be invested in European wind and solar plants on behalf of institutional investors. Once AREF2 is fully invested, the Infrastructure Equity team at Allianz Global Investors will manage roughly 1.6 billion Euros in renewable energy and infrastructure projects.