Allianz's investments in renewable energy have surpassed the one billion euro mark. Since 2005, Allianz has invested in 30 wind farms and solar parks in Germany, France and Italy via its subsidiary Allianz Renewable Energy Partners. The last transaction involving an Italian 15-megawatt solar power facility was concluded at the end of December 2010. "Over the past five years, we have continually expanded our renewable energy investment portfolio and are now one of the world's largest financial investors in this field. Last year, we also expanded our investments to include solar energy," says David Jones, CEO of Allianz Specialised Investments (ASI) and Head of Renewable Energy Investment at Allianz Capital Partners (ACP).
Investments in wind and solar power exceed one billion euros
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The wind farms and solar parks currently managed by Allianz have an electrical generation capacity of over 600 megawatts, and produce enough energy to supply around 250,000 households. "Renewable energy is an area that generates attractive returns, irrespective of capital market fluctuations. With operating lives of 20 years and more, this asset class is a good fit for Allianz's long-term investment strategy," says David Jones. "Wind farms and solar parks also contribute to combating climate change. As a result, I believe that there will be considerable growth in investment in renewable energy for many years to come."
The renewable energy market has witnessed particularly strong growth in recent years. The World Energy Council estimated that the market was worth 635 billion US dollars in 2010. By 2020, experts predict that investments in wind and solar power will have risen to 1.9 trillion US dollars.
David Jones: "There will be considerable growth in investment in renewable energy for many years to come"
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