Allianz acquires 218 MW subsidy free solar project in Portugal

46 MW »Ourika« solar project in Portugal

Allianz insurance companies has signed the acquisition of the 218.8 MW »Solara« project in Portugal. Construction works have already started. The commissioning of the project is planned for summer 2019. Solara is located in Southern Portugal, around 230 km south-east of Lisbon. The facility has agreed terms for a 20 year fixed price power purchase agreement (PPA).
Solara is the second investment in a solar project without public subsidies for Allianz. As reported, in October Allianz acquired the 46 MW solar farm in Ourique, Portugal. Allianz’ equity investments in the renewable energy sector amount to 9 solar farms and 83 wind parks located in Austria, Finland, France, Germany, Italy, Portugal, Sweden and the United States.

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