Allianz has more than 100 wind and solar parks with its first investments in Poland

Allianz Capital Partners on behalf of Allianz insurance companies (“Allianz”) has closed the acquisition of its first renewable energy installations in Poland from ENERTRAG, consisting of nine sites split into two projects, Dargikowo and Karlino. With these additions, Allianz now owns more than 100 wind and solar parks. Construction works for Dargikowo and Karlino have already started. The commissioning of the projects is planned for 2021 and 2022, respectively.

ENERTRAG is a leading project developer and independent power producer. ENERTRAG is constructing the portfolio, including its 250 MW grid infrastructure, on behalf of Allianz and will provide long-term operational services.

allianz enertrag poland wind park
Copyright: ENERTRAG

Dargikowo and Karlino are located in the north-west of Poland. With a production capacity of 133 MW for Dargikowo and 53 MW for Karlino, these wind parks can provide renewable energy for approximately 260,000 average households of the region per year. This would be enough to supply a city the size of Poznań with clean energy for one year.

“We are very delighted to announce our 100th and 101st renewable project which are at the same time our first equity investments in Poland. Our new wind parks will make an important contribution to increase the share of renewable energy in Poland and help to reach Allianz´s goal of a carbon-neutral portfolio by 2050 while delivering stable cash yields to Allianz insurance clients,” says Christian Fingerle, Chief Investment Officer at Allianz Capital Partners.

“With the energy generated by the Dargikowo and Karlino projects upon completion, 11 mil-lion tonnes of CO2 can be saved by 2050 compared to the current energy mix in Poland,” says Georg Höfler, Director at Allianz Capital Partners, who led the transaction.

Gunar Hering, board member of ENERTRAG, adds, “We are very proud of our contribution to the Polish energy transition and are looking forward to construct more wind and solar plants in the new future.” Simon Hagedorn, Vice President Finance of ENERTRAG, comments: “ENERTRAG’s success in the Polish renewables auction last year and the subsequent project sale to Allianz is proof of ENERTRAG’s high quality project development.”

Allianz’s equity investments in the renewable energy sector amount to 9 solar farms and 92 wind parks located in Austria, Finland, France, Germany, Italy, Poland, Portugal, Sweden and the United States. The wind and solar parks of Allianz in Europe generate enough renewable energy to supply over 1.2 million households.

Allianz Capital Partners is one of the Allianz Group's asset managers for alternative equity investments and part of Allianz Global Investors. Allianz Capital Partners manages over 56 billion euros in alternative assets for the Allianz Group and third-party investors**. Our investment focus is on private equity, infrastructure and renewable energy. Our investment strategy aims to generate attractive, long-term and stable returns for our clients.

As of March 31, 2023.

Allianz Global Investors is a leading active asset manager with over 690 investment professionals in 24 offices worldwide and managing EUR 633 billion in assets. 

Data as of June 30, 2021

The Allianz Group is one of the world's leading insurers and asset managers with around 125 million* private and corporate customers in nearly 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 737 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 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 are among the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2023, over 157,000 employees achieved total business volume of 161.7 billion euros and an operating profit of 14.7 billion euros for the group.
* Including non-consolidated entities with Allianz customers.
** As of December 31, 2023.

About ENERTRAG

ENERTRAG provides all services related to renewable energy. We efficiently bring together electricity, heat and mobility for all areas of life. As an energy producer with an annual production of 1.68 million MWh and a service network with over 1,125 wind turbines, we know from personal experience what is important for our customers. With more than two decades of experience in Europe, our 680 employees combine all the skills required for the successful operation and efficient maintenance, as well as citizen-oriented planning and reliable construction of wind turbines, grids, and even complete integrated power plants. We are always one energy ahead - whether in sector coupling, local stakeholder investment models or need-based night-beaconing.

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Pia Groeger
Allianz Capital Partners
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