Posted on 22 Dec 2009
Allianz has acquired the Mont Gimont 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 Froncles, the wind farm utilizes Vestas V90-2MW wind turbines and has a rated capacity of 48 MW. The wind farm is under construction with the first tranche expected to be fully operational by the end of 2009.
David Jones, CEO of Allianz Specialised Investments (ASI), said: "We are very pleased to have made our largest wind farm investment to date in France. This also marks the start of what we hope to be a productive relationship with EOLE-RES."
This investment takes the operational asset base of ASI in Europe to over 450MW.
Matthieu Guérard, Managing Director of EOLE-RES, said: "We began development of the Mont Gimont wind farm project in 2002 and are therefore delighted to see the turbines going up. We look forward to continuing our positive working relationship with Allianz through the final stages of construction".