AREF II now fully invested with solar energy from France and Italy

Downloads

Related links

Allianz Global Investors announces that the Allianz Renewable Energy Fund II (AREF II) has been fully invested within 24 months following the purchase of further photovoltaic plants in Italy and France. The issuing period for AREF II to European institutional investors began in March 2016 and closed for further investments on November 15, 2016. Just like the first Allianz Renewable Energy Fund (AREF I), the AREF II fund invested around 350 million euros in European wind and solar power plants. 

The team led by Armin Sandhoevel, CIO Infrastructure Equity, bought the last solar parks in northern Italy and southwestern France. The installed capacity of the 12 Italian photovoltaic plants in Veneto and Friuli Venezia Giuglia is around 12 megawatts, and that of the French solar plant "Tourillon" around 9 megawatts. Overall, the AREF II portfolio has a total installed capacity of around 420 megawatts divided into around 300 megawatts of onshore wind energy and around 120 megawatts of solar energy. This corresponds to an annual electricity requirement of around 260,000 households.

"We are delighted that this is the second time we have worked together with BayWa.r.e. for our AREF II customers in a proven partnership," says Thomas Engelmann, who is responsible for the transactions. At the beginning of 2017, Allianz Global Investors acquired the "Wendy" solar park portfolio in Great Britain from BayWa.r.e. and entrusted it with operational management. "With the purchase of "Vicenza" in Italy, we were able to further expand the diversification of the AREF II portfolio not only technically but also regionally," said Engelmann.

Over the past two years, the Infrastructure Equity team has invested in France, Germany, the Netherlands, Sweden, the UK and Italy. Sandhoevel says: "The European renewable energy market is highly competitive. However, our strong market position has enabled us to build a balanced portfolio that invests in six countries. In particular, our growing relationships with project developers which have offered us good access to many projects."

In total, Allianz Global Investors' Infrastructure Equity team manages roughly 1.6 billion euros in renewable energy and energy infrastructure projects. No further purchase or financing details will be disclosed.

Allianz Global Investors is a leading active asset manager with over 700 investment professionals in 25 offices worldwide and managing more than 500 billion euros in assets for individuals, families and institutions.

Active is the most important word in our vocabulary. Active is how we create and share value with clients. We believe in solving, not selling, and in adding value beyond pure economic gain. We invest for the long term, employing our innovative investment expertise and global resources. Our goal is to ensure a superior experience for our clients, wherever they are based and whatever their investment needs.

Disclaimer

Investing involves risk. The value of an investment and the income from it may fall as well as rise and investors might not get back the full amount invested.
Allianz Renewable Energy Fund II, S.A. SICAV SIF is a closed-ended investment company with variable capital (société d'investissement à capital variable), incorporated in Luxembourg, qualifying as a specialised investment fund (fonds d’investissement spécialisé) and organised in the form of a public limited liability company (société anonyme) qualifying as an alternative investment fund (“AIF”) within the meaning of AIFMD (Alternative Investment Fund Directive) and articles 1 (39) and 4 of the Luxembourg Law of 12 July 2013 on alternative investment fund managers.
Past performance is not a reliable indicator of future results. The views and opinions expressed herein, which are subject to change without notice, are those of the issuer companies at the time of publication. The data used is derived from various sources, and assumed to be correct and reliable, but it has not been independently verified; its accuracy or completeness is not guaranteed and no liability is assumed for any direct or consequential losses arising from its use, unless caused by gross negligence or wilful misconduct. The conditions of any underlying offer or contract that may have been, or will be, made or concluded, shall prevail.
This is a marketing communication issued by Allianz Global Investors GmbH, www.allianzgi.com, an investment company with limited liability, incorporated in Germany, with its registered office at Bockenheimer Landstrasse 42-44, 60323 Frankfurt/M, registered with the local court Frankfurt/M under HRB 9340, authorised by Bundesanstalt für Finanzdienstleistungsaufsicht (www.bafin.de). The information contained herein is confidential. The duplication, publication, or transmission of the contents, irrespective of the form, is not permitted.
Infrastructure equity investments are highly illiquid and designed for professional investors pursuing a long-term investment strategy only.

The Allianz Group is one of the world's leading insurers and asset managers with more than 100 million retail and corporate customers in more than 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 766 billion euros on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage 1.7 trillion euros of third-party assets. Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we hold the leading position for insurers in the Dow Jones Sustainability Index. In 2019, over 147,000 employees achieved total revenues of 142 billion euros and an operating profit of 11.9 billion euros for the group.

These assessments are, as always, subject to the disclaimer provided below.

Stefanie Waldeck
Allianz Global Investors
Stefan Lutz
Allianz Global Investors
Klaus Papenbrock
Allianz Global Investors
As with all content published on this site, these statements are subject to our cautionary note regarding forward-looking statements:
Disclaimer
Allianz Benelux and Monument Re announce closed book portfolio transaction

Allianz Benelux (Belgium) and Monument Re have agreed today to transfer a closed book of classical life retail insurances together with 4,500 mortgage loans to Monument Assurance Belgium (MAB) and to transfer the related operations within 18 months after regulatory approvals. The transaction includes a portfolio of 95,000 policies with technical provisions of 1.4 billion euros under Solvency II.

Allianz completes acquisition of automobile and other Property-Casualty business from SulAmérica

Allianz has closed the acquisition of the automobile and other Property & Casualty business from SulAmérica. This follows the announcement of the deal on August 23, 2019. The transaction enlarges the service offering for customers and grows Allianz’s geographical footprint in Brazil.

Allianz and BBVA to form long-term bancassurance joint venture in Spain

Allianz and Banco Bilbao Vizcaya Argentaria have signed an agreement to create a bancassurance joint venture in Spain including a long-term exclusive distribution agreement for the sale of property-casualty insurance products through BBVA’s banking network in Spain.