Allianz Global Investors markets UK portfolio to Greencoat Capital

• Allianz Global Investors has introduced the divesture of a solar energy portfolio in the UK regions of Cambridgeshire, Worcestershire, as well as Norfolk to Greencoat Capital.

Allianz Global Investors has actually revealed the divesture of a solar energy portfolio in the UK areas of Cambridgeshire, Worcestershire, as well as Norfolk to Greencoat Capital.

The solar possessions were acquired by Greencoat Capital's Greencoat Solar Assets II.

The firms have actually not revealed the monetary information of the deal.

Allianz Global Investors noted that the solar facilities are part of the renewable energy portfolio, which it handles in behalf of its institutional third-party clients.

The assets managed by the company are worth about EUR1.5 bn.

As part of the offer, Allianz Global Investors marketed 3 photovoltaic or pv (PV) solar plants with a combined set up capability of 99.1 MW.

Allianz Global Investors Infrastructure Equity primary investment policeman Armin Sandhoevel claimed: "In the current market atmosphere, there is solid demand from UK capitalists for power financial investments located in their residence market.

" The solar park portfolio is of high technical top quality and also has, therefore, attracted a lot of rate of interest. In view of the eye-catching costs in the British market, we have decided to offer in the interests of our financiers."

The deal was led by Roderick N MacDonald and Heiko Ruland.

For the offer, Allianz Global Investors was advised by Milbank.

In May, UK possession management company Greencoat Capital unveiled its plans to purchase a solar portfolio from BlackRock Real Assets as well as Lightsource bp.

Greencoat Solar II LP purchased the purchase in support of numerous UK's pension funds. The monetary details of the deal have actually not been divulged. The portfolio has an ability of 156MW.

The portfolio obtained by Greencoat has the ability to power about 45,000 houses while balancing out 65,000 tpa of carbon discharges.