Allianz has acquired six solar parks of up to 1MWp each from BP Solar Italy. Located in the municipalities of Brindisi and Mesagne in the Puglia region of Italy, the solar parks utilize BP Solar mono- and poly-crystalline panels on a fixed installation.
The solar parks have been operating since the end of 2009. An additional two solar parks (of up to 1MWp each) are awaiting completion of construction at which stage they will be purchased under the agreement with BP Solar.
David Jones, CEO of Allianz Specialised Investments, said: “We are very pleased to have made our first solar park investment. The solar industry is of strategic importance to us and we are keen to build on this initial success and develop our portfolio in Italy and across other key European markets.”
Reyad Fezzani, CEO of BP Solar, said: “This landmark deal in Italy is the first collaboration between Allianz, a leader in the insurance and financial services sector and BP Solar, a leader in the solar industry. We look forward to growing this partnership in Europe to meet the demands of the expanding solar market.”