Allianz Global Investors Buys Italian Solar Power Plant

Dec. 4 (Bloomberg) — Allianz Global Investors, a unit of
the German insurer Allianz SE, bought a solar project in Italy
capable of providing enough electricity for about 3,070 homes.

The 8 megawatt project in Puglia was bought on behalf of
the Allianz Renewable Energy Fund, Allianz said today in an e-mailed statement.

The Italian parliament in August approved a measure that
retroactively lowers the rates paid for power from solar farms.
The changes were reflected in the acquisition, according to the
statement. The transaction price wasn’t disclosed.

“Our investment targets are return-strong projects which
already price in regulatory risks like these,” said Armin
Sandhovel, chief investment officer for infrastructure equity at
Allianz Global.

To contact the reporter on this story:
Louise Downing in London at
ldowning4@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Tony Barrett

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