Allianz to boost green investments, offshore wind an option - report
Offshore wind park. Featured Image: Dabarti CGI/Shutterstock.com
Allianz Deutschland, part of German insurer Allianz SE (ETR:ALV), plans to raise its annual renewables spending by 75% and may even opt to co-invest in offshore wind parks, a spokeswoman told Bloomberg today.
The subsidiary will increase its annual investment into renewables to EUR 350 million (USD 399m), thereby boosting Allianz’s total clean energy investments to EUR 500 million in 2015, according to the representative.
The company is currently holding talks to enter the US wind power industry through investments in local projects. It is even willing to team up with an experienced utility to co-invest in offshore wind farms, but a good opportunity has not yet emerged, the spokeswoman said, as cited by the news agency.
At present, Allianz has roughly EUR 2.4 billion worth of renewable energy assets under management, according to the report.