Allianz Global Investors has acquired a 20.25% stake in the French îles d’Yeu et Noirmoutier (EMYN) offshore wind farm from Ocean Winds, a joint venture between EDP Renewables and Engie.
Allianz, investing on behalf of its insurance subsidiaries, has acquired the minority interest in the 500MW project for an equity value of €200m.
Following the transaction, EMYN’s ownership consists of Ocean Winds with 40%, Sumitomo with 29.5%, while Allianz Global Investors holds 20.25%, Banque des Territoires has 9.75% and Vendée Energie retains a 0.5% stake.
The EMYN project has entered its final construction phase and is on track for full commissioning in the first quarter of 2026.
Mario Skoric, CEO at Allianz Investment Management, said: “This project marks our third direct investment in offshore wind following investments in the Netherlands and Germany, and is our first offshore wind investment in France, a market where Allianz has been actively investing in renewable energy projects since 2008.
“îles d’Yeu et Noirmoutier is a further testament to our commitment to the energy transition and the importance of expanding renewables infrastructure. We are delighted to collaborate with Ocean Winds on this important project, which supports the path to decarbonisation while delivering long-term value for our policyholders.”
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