Munich Re studies wind farm deal in US$3.4 billion renewable plans

Munich Re, the world’s biggest re- insurer, may buy a stake in an offshore wind farm operated by utilities such as EON SE and RWE AG as it earmarks 2.5 billion euros ($3.4 billion) to invest in renewable-energy assets.

MEAG Munich Ergo Asset Management, Munich Re’s investment arm, is in talks with utilities about investing in a project stake once the farm is connected to the power grid, said Robert Pottmann, who heads MEAG’s renewable-energy unit.

“It would be a grid-connected wind farm developed, financed and operated by a big utility,” Pottmann said by phone from Munich.

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