Munich Re acquires stake in US wind farm
Munich Re has acquired a stake in the 288.6-megawatt Miami Wind Energy Center in the north of Texas, which in one of the windiest regions in the United States.
This wind farm comprises 156 General Electric wind turbines that went into operation in September 2014. Developer of the wind farm and vendor of the stake is Invenergy, a developer and operator of wind farms in North America.
The acquisition, in the double-figure euro millions, is Munich Re's first infrastructure investment in North America.
MEAG Managing Director Holger Kerzel commented:
"We are very happy to have realised our first infrastructure investment in North America, together with a strong partner. The investment makes an attractive and lasting contribution to the geographic diversification of our portfolio."
MEAG is the asset manager of Munich Re and ERGO. With offices in Europe, Asia and North America it also offers its extensive know-how to institutional investors and private clients from outside Munich Re. MEAG currently manages assets to the value of around €247 billion.
We have recently reported about several wind farms transactions in the USA:
- ALLETE Clean Energy acquires 108 MW Storm Lake 1 from NRG Energy
- First Wind sells wind assets to J.P. Morgan Asset Management
- Enbridge acquires 80% stake in E.ON’s wind portfolio
- Montana-Dakota Utilities acquires 107.5 MW North Dakota wind farm
- IKEA acquires 165MW Cameron Wind Project from Apex Clean Energy
- Pattern Energy acquires 182 MW Panhandle 2 wind farm in Carson County
- Sale of wind projects Post Rock and Lost Creek based in Kansas and Missouri
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