By Mindful Money:
Munich Re continued its campaign to invest 2.5 billion euros (£1.96 billion) in renewable energy assets with the acquisition on Monday of three British wind farms. Individual investors however might wonder whether wind power is a welcome breeze, or just full of hot air.
The German reinsurer bought onshore wind farms located at Tir Mostyn in North Wales, Scout Moor near Manchester and Lincolnshire’s Bagmoor, which together create a combined capacity of 102 megawatts. Terms have not been disclosed, but were reported by Bloomberg to push Munich Re’s renewable energy investments past 600 million euros (£472 million) since last year.
The deal was concluded between Munich Re’s MEAG Munich Ergo Asset Management arm and private equity firm HgCapital, which manages Europe’s largest renewable energy infrastructure fund… Read more