Allianz acquires Langres Sud wind farm

Allianz has acquired the Langres Sud wind farm from project developer, constructor and operator EOLE-RES SA. Located in the Haute Marne department in Eastern France close to the village of Esnoms au Val, the wind farm utilizes REpower MM92-2MW wind turbines and has a rated capacity of 52 MW. The wind farm is under construction with the first tranche expected to be fully operational by the end of 2010.

David Jones, CEO of Allianz Specialised Investments, said: "With this our largest wind farm investment in France we now own about 200MW in this key wind market. This follows the acquisition in 2009 of the 48MW Mont Gimont wind farm from EOLE-RES and marks the continuation of a productive relationship."

This investment takes Allianz's wind farm asset base in Europe to over 500MW.

Matthieu Guérard, Managing Director of EOLE-RES, said: "We began development of the Langres Sud wind farm project in 2002 and are therefore delighted to be witnessing the start of construction. We look forward to continuing our positive working relationship with Allianz through the final stages of construction."

As part of Allianz Capital Partners, the alternative asset investment manager of the Allianz Group, Allianz Specialised Investments is dedicated to the segment of renewable energy investments. Its aim is to build up a long-term portfolio in renewable energy assets, especially wind and solar parks.

EOLE-RES (www.eoleres.com) is specialised in the conception, development, financing, construction and operation of renewable energy power plants in France. EOLE-RES, one of the leading renewable energy developers on the French market, is today behind over 400 MW of installed wind capacity. The company is a subsidiary of RES Mediterranean, which develops renewables throughout the Mediterranean region and the Middle East.

 
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