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Allianz buys three additional wind parks in Finland

Staff writer ▼ | April 4, 2016
Allianz Capital Partners (ACP) acquired three additional wind parks in Finland. ACP signed an acquisition agreement for the wind parks with Portofino New Energy, which is owned by Impax New Energy Investors II.
Wind park Finland
Green energy   Joukhaisselkä and Kuolavaara-Keulakkopää
The Joukhaisselkä and Kuolavaara-Keulakkopää wind parks are located in Lapland, a region in the north of Finland, and benefit from a joint operations and maintenance base.

The Saarenkylä wind park is close to the western coast line, situated in the region of northern Ostrobothnia.

Together, they have a total capacity of 107.7 MW. This is five times the capacity of the first Finnish investment of Allianz in Jouttikallio and is enough to satisfy the electricity demands of around 95,000 average EU households.

"This sizeable purchase allows us to further diversify the Allianz renewables portfolio, allowing us to establish a strong position in Finland, which is an attractive European wind market, and to develop our standing in the Nordic region as a whole", said David Jones, Head of Renewables at Allianz Capital Partners.

"It’s an investment which has a positive impact on the environment and also benefits our customers. It marks a new milestone for Allianz, which has now invested a total of more than 3 billion euros in renewable energy."

All three wind farms will be acquired as operational sites after the construction work has been completed.

The commitment of Allianz to the renewable energy sector now exceeds 3 billion euros, with 63 wind farms and 7 solar parks.

The wind and solar portfolio of ACP generates enough renewable energy to supply over a million households, which is comparable to a city the size of central Paris. The renewable energy portfolio of Allianz currently includes sites located in Austria, Finland, France, Germany, Italy, Sweden and the U.S.

The parties have reached a contractual agreement not to disclose the purchase price.