Allianz acquires a further German wind farm, Schoenwalde in Brandenburg.

Allianz has acquired the Schönwalde wind farm which is being constructed near Lübben, Brandenburg, Germany. The project was purchased from Global Wind Power A/S of Denmark , a wind farm developer and manager. The wind farm has a total output capacity of 22 megawatts, and comprises eleven Vestas V90-2MW wind turbines. It is expected to be fully operational by the end of the year.

David Jones, CEO of Allianz Specialised Investments, said: "We are pleased to add the Schönwalde project to our portfolio. Together with the recently acquired Büttel, Emmendorf and Berge-Kleeste projects, this acquisition takes our installed capacity to 135 megawatts in the key German market and to over 200 megawatts in total."

Henrik Amby, CEO of Global Wind Power, added: "We are very pleased to have closed this agreement with Allianz and we look forward to working together. This transaction is a step towards achieving our strategy to become a global professional partner for wind farm investors."

About Allianz Specialised Investments

As part of Allianz's alternative asset investment activities, Allianz Specialised Investments is dedicated to the segment of renewable energy investments. Its aim is to build up a long-term portfolio in renewable energy sources, especially wind energy.

About Global Wind Power

Global Wind Power is a Danish-owned company specialising in the development, installation and administration of wind farms. Since it was founded in 2000, Global Wind Power has been involved in erecting more than 200 wind turbines in Denmark, Germany and Bulgaria. During the last financial year, the annual turnover amounted to more than 80 million euros in European markets.