Allianz is acquiring a 16.6% stake in the He Dreiht offshore wind farm, marking its first direct investment in this sector in Germany.

Information on the Target

He Dreiht is set to be one of the largest offshore wind farms in Germany, boasting a capability to supply clean energy to around 1.1 million households upon completion. Located in the North Sea, approximately 85 km off the coast of Emden in Lower Saxony, the wind farm will feature 64 turbines, each with an output capacity of 15 MW. The construction is slated to begin in 2024, with operations expected to start by the end of 2025.

Industry Overview in Germany

Germany has significantly increased its investments in renewable energy, particularly in offshore wind, due to its commitment to the energy transition and reducing carbon emissions. The country aims to derive a substantial portion of its energy from renewable sources by 2030, with offshore wind farms playing a crucial role in this strategy. As one of the European leaders in wind energy, Germany's North Sea region is particularly advantageous due to favorable wind conditions and proximity to energy demand centers.

The government has also implemented various initiatives and regulatory frameworks that incentivize investments in renewable energy projects, creating a robust ma