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German insurance firm Allianz moves towards renewable energy by acquiring wind farm in Finland

Author: Madeleine Cuff, Business Green, Published on: 19 January 2016

"Allianz enters Finnish market with 21MW wind power deal", 12 Jan 2016

German insurance company Allianz is to acquire a 21MW wind farm in Lapua, Finland from renewables producer OX2, the firm announced today. In Allianz' first foray into the Finnish market, the company is buying a planned six-turbine farm in western Finland, which when completed will generate 63GWh of clean electricity every year - enough to power 12,600 households. The value of the deal - which is expected to close by the end of the month - was not disclosed. The move is the third wind farm deal Allianz has signed with OX2, following agreements relating to two more sites in Sweden totalling 105MW…David Jones, head of renewables at Allianz, said entering the Finnish market marked the latest "milestone" in the investment giant's clean energy push."Finland is a promising European wind market and it will help us to increase and further diversify our renewables portfolio," he said in a statement…

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Related companies: Allianz