Allianz invests in wind parks in New Mexico

Munich - Allianz and Bank of America Merrill Lynch have together committed the tax equity for two wind parks developed by EDF Renewable Energy, one of the leading wind project developers in the United States.

The two wind farms, Roosevelt (250MW) and Milo (49.65MW), are adjacently located in Roosevelt County, New Mexico. The combined 150 wind turbines produce enough clean, renewable energy to power approximately 170,000 New Mexico households. Both projects are operational.

By investing in these two wind projects, Allianz has internationalised its renewables initiative beyond its European base, and takes its total investment to over 3 billion US-Dollars (around 2.9 billion euros) of equity investments in wind and solar assets.

In the U.S., renewables are incentivized through tax benefits based on production rather than premium electricity prices, as they are in Europe, and Allianz

Source: IWR Online, Feb 02 2016