Allianz Capital Partners has completed the acquisition of two wind power projects in Poland from independent energy company Enertrag.
The two projects, Dargikowo and Karlino, include nine renewable energy installations with a combined capacity of 186MW.
Located in the north-west region of Poland, Dargikowo project has capacity of 133MW and Karlino has 53MW.
Construction works for Dargikowo and Karlino projects have already started. The plants are expected to come online by 2021 and 2022 respectively.
Once operational, the two wind projects will have the capacity to power nearly 260,000 average households annually.
Allianz Capital Partners director Georg Höfler said: “With the energy generated by the Dargikowo and Karlino projects upon completion, 11 million tonnes of CO₂ can be saved by 2050 compared to the current energy mix in Poland.”
Enertrag will be constructing the portfolio on behalf of Allianz, and has agreed to provide long-term operational services for the two projects.
The acquisition was made by Allianz Capital Partners, on behalf of Allianz insurance companies. Financial details of the acquisition have not been disclosed.
Allianz Capital Partners chief investment officer Christian Fingerle said: “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.”
With these acquisitions, Allianz will now own a portfolio of more than 100 wind and solar parks.