Allianz Global Investors has acquired a 20.25% stake in the îles d’Yeu et Noirmoutier offshore wind farm (EMYN) in France from Ocean Winds, acting on behalf of Allianz insurance companies.
The project, currently nearing the end of its construction phase, began generating electricity in June 2025 and has more than two-thirds of its turbines installed and supplying power to French households.
Full commissioning is expected in the first quarter of 2026.
This marks the first collaboration between Allianz and Ocean Winds, which was founded by EDP Renewables and ENGIE.
Allianz Investment Management CEO Mario Skoric said: “This project marks our third direct investment in offshore wind following investments in the Netherlands and Germany, and is our first offshore wind investment in France, a market where Allianz has been actively investing in renewable energy projects since 2008.
“îles d’Yeu et Noirmoutier is a further testament to our commitment to the energy transition and the importance of expanding renewables infrastructure. We are delighted to collaborate with Ocean Winds on this important project, which supports the path to decarbonisation while delivering long-term value for our policyholders.”
The offshore wind farm project, positioned 11km off the island of Yeu and 16km from Noirmoutier, will deliver an installed capacity of 488MW.
This capacity is forecast to produce 1,900 gigawatt-hours annually, supplying electricity to approximately 800,000 people.
The development represents a total investment of €2.5bn ($2.93bn). Construction activities involve a significant European supply chain, with 95% of Tier 1 suppliers located within Europe. More than half of these are based in France.
Turbine components are manufactured in Le Havre, with pre-assembly operations carried out in Saint-Nazaire.
The construction phase has mobilised more than 1,500 direct and indirect jobs, including around 1,000 positions in Le Havre.
Allianz Global Investors manages €580bn in assets and employs more than 700 investment professionals across 21 offices worldwide. The company provides active asset management services to clients in various regions.
