Aegon Asset Management invests €45 million in German wind park
Aegon Asset Management (AAM) has invested €45 million in an offshore wind farm as part of its commitment to a low carbon energy future.[node:field_featured_media:entity:field_media_image]
Aegon, which recently signed the Paris Pledge for Action to accelerate the reduction of global warming to well below 2C (3.6F), said the investment will facilitate the transition to a low carbon economy.
This is an 'impact investment' which fits with our sustainability remit, but it also promises an attractive risk/return over a relatively short duration.
Head of Responsible Investment at Aegon Asset Management
The 'Meerwind' project is a 288MW offshore wind farm located in the German North Sea to the south-west of the Danish German border. It consists of 80 Siemens wind turbines and has been operational since January 2015.
Cooperation with joint venture partner
Aegon Asset Management cooperated with French joint venture partner La Banque Postale Asset Management (LBPAM) in the project, with LBPAM investing a further €25 million in the wind farm.
The investment offers external ratings from Moody's, Standard & Poors and Fitch of Baa3, BBB- and BBB respectively.