Press releases

Allianz Global Investors closes its largest infrastructure debt investment in the US



New York, 22 June 2018 Allianz Global Investors (AllianzGI), one of the world’s leading active investment managers, announced today that it has made a $760 million investment on behalf of its clients into a portfolio of 10 solar projects located in the US across 47 facilities totalling 718 MWac of gross installed capacity with long term contracts with 12 different offtakers.

  • AllianzGI makes a $760 million debt investment on behalf of its clients to refinance the acquisition of a solar portfolio of projects in the US
  • This is the eighth renewable energy investment in the US in less than 20 months, amounting to a total installed capacity of 2.3 GW in US wind and solar projects
  • AllianzGI has deployed over $4.1 billion in 14 infrastructure debt investments in the Americas since 2015

New York, 22 June 2018 Allianz Global Investors (AllianzGI), one of the world’s leading active investment managers, announced today that it has made a $760 million investment on behalf of its clients into a portfolio of 10 solar projects located in the US across 47 facilities totalling 718 MWac of gross installed capacity with long term contracts with 12 different offtakers.

This is the eighth AllianzGI debt investment in a renewable energy project in the US and follows recent renewable energy investments in Grande Prairie Wind, Balko Wind, Moapa Solar, Mount Signal 3, California Flats and Palouse Wind.

Capital Dynamics' Clean Energy Infrastructure (CEI) team completed the acquisition of California-based yieldco 8point3 Energy Partners LP (8point3), expected to be one of the largest renewable energy transactions of 2018. The majority of large scale projects of 8point3 are being refinanced through this 26-year fully amortizing bond. AllianzGI, on behalf of its clients, is the sole investor in the bond.

This is the fourth infrastructure debt renewable energy investment made by AllianzGI in the last three months in a project sponsored by Capital Dynamics. MUFG acted as placement agent and provided other bridge and ancillary credit facilities.

“2018 is already another very busy year for Capital Dynamics as we continue to build our portfolio and we are pleased to have Allianz GI’s support once again” says John Breckenridge, Capital Dynamics’ Head of Clean Energy Infrastructure. “AllianzGI has been our financing partner in multiple transactions. Their understanding of the sector and their ability to scale-up a financing solution for 8point3 made AllianzGI one of the pillars in the execution of our financing strategy.”

Commenting on the transaction, Jorge Camina, Director of Infrastructure Debt at AllianzGI, said:
“Institutional investors around the world want more high-quality infrastructure investments. Our 8point3 debt investment is an excellent showcase of AllianzGI’s differential capabilities to execute complex transactions and match our clients with the owners of high quality infrastructure assets.”

AllianzGI has been a leading provider of institutional infrastructure debt solutions to the European market since 2013 and entered the US market in 2015. The AllianzGI infrastructure debt platform has now made over $4.1 billion of investment commitments to infrastructure assets in the Americas over a period of about three years, with more expected to follow.

Notes to editors

Capital Dynamics completed the acquisition of San Jose, California-based yieldco 8point3 Energy Partners LP (Nasdaq: CAFD) on June, 19, 2018.

8point3 was formed in 2015 as a joint venture between First Solar, Inc. (Nasdaq: FSLR) and SunPower Corporation (Nasdaq: SPWR), two of the largest developers, manufacturers, owners, operators and service providers of utility- and commercial-scale solar PV projects in the world. 8point3, together with its subsidiaries, acquires, owns and operates solar energy generation projects in the United States – with ownership interests in nine utility-scale solar projects, four commercial and industrial solar projects and an extensive residential portfolio spanning nine states.

The AllianzGI Infrastructure debt team has completed 52 investments for a total of over $12.8 billion between the US and Europe since 2013. The infrastructure portfolio in the Americas has several large infrastructure investments, the first being the $700 million acquisition stage investment in the Indiana Toll Road in May 2015, subsequent investments include Chicago Skyway, the Long Beach Civic Center P3 project, Grande Prairie Wind, Balko Wind, Moapa Solar, Moapa Solar, Mount Signal 3, California Flats, Palouse Wind and more recently the El Encino – La Laguna natural gas pipeline in Mexico.

In addition to providing debt finance, the Allianz group has two other initiatives contributing to the growth of renewable energy in the US. Allianz Capital Partners manages the provision of tax equity for wind farms and, to date, has committed over $1 billion in the US. Allianz Risk Transfer provides an innovative risk management solution for hedging wind volume risks for wind farms and has successfully executed Proxy Revenue Swaps with several counterparties in the US totaling more than 1,000 MW.

Mayer Brown acted as legal counsel to the AllianzGI investors. Amis, Patel & Brewer, LLP acted as counsel to CEI.

For further information please contact

Robin Pertusi, Tel. +1 212 739 3172,

About Allianz Global Investors

Allianz Global Investors is a leading active asset manager with over 754 investment professionals* in 25 offices worldwide and managing more than EUR 564 billion in assets for individuals, families and institutions.

Active is the most important word in our vocabulary. Active is how we create and share value with clients. We believe in solving, not selling, and in adding value beyond pure economic gain. We invest for the long term, employing our innovative investment expertise and global resources. Our goal is to ensure a superior experience for our clients, wherever they are based and whatever their investment needs.

Active is: Allianz Global Investors

* Data as of 30 September 2020

About Capital Dynamics' Clean Energy Infrastructure

Capital Dynamics' Clean Energy Infrastructure (CEI) team holds extensive expertise in investing, financing, owning and operating conventional and clean energy businesses globally. Established to capture attractive investment opportunities in this class of real assets, Capital Dynamics' CEI invests directly in proven clean energy technologies such as solar, wind, biomass, conventional gas generation and waste gas-fueled power generation across the globe. Since the establishment of Capital Dynamics' CEI business, the CEI team has acquired, built and now manages 3.1 GW of clean energy capacity in North America and Europe.

Data as of 24 August 2017


AllianzGI achieves highest possible score for ESG Strategy & Governance from PRI



Allianz Global Investors, a leading global active investment manager has received an A+ for its overarching approach to ESG Strategy and Governance for the second year in a row.

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