Allianz Global Investors has acquired a minority stake in the 500MW îles d’yeu et Noirmoutier offshore wind farm off France from Ocean Winds.
The project (pictured) is in the final phase of construction and represents the first partnership between Allianz and Ocean Winds in the offshore wind sector, the German insurer said after confirming the 20.25% stake.
First power was generated in June 2025 and over two thirds of the turbines are currently installed and supplying renewable electricity to French households.
The project is expected to reach full commissioning in the first quarter of 2026.
Mario Skoric, chief executive officer at Allianz Investment Management, said: “This project marks our third direct investment in offshore wind following investments in the Netherlands and Germany, and is our first offshore wind investment in France, a market where Allianz has been actively investing in renewable energy projects since 2008.”
Skoric added: “îles d’Yeu et Noirmoutier is a further testament to our commitment to the energy transition and the importance of expanding renewables infrastructure.”
He stated: “We are delighted to collaborate with Ocean Winds on this important project, which supports the path to decarbonization while delivering long-term value for our policyholders.”