Allianz Capital Partners, as part of a consortium with Norges Bank Investment Management and AIP Management, has agreed to purchase a 49.9 percent stake in the offshore windfarm He Dreiht from German utility EnBW.
Allianz, investing on behalf of the Allianz Insurance Cos., will acquire a 16.6 percent stake in the 960-megawatt project, which is located in the German North Sea. Upon completion, He Dreiht will be one of the largest offshore wind farms in Germany, with the ability to provide around 1.1 million households with clean energy.
EnBW will develop and operate He Dreiht and will offtake the power generated. Construction is expected to start in 2024, with the wind farm reaching operations at the end of 2025.
“We are very excited about our second investment into offshore wind,” said Stefan Henge, head of renewables Europe at Allianz Capital Partners. “This marks another milestone in our commitment to invest in projects that support the expansion of rene
