Aegon Asset Management (AAM) and its French joint venture partner La Banque Postale Asset Management (LBPAM) have invested EUR 70 million in the 288MW Meerwind offshore wind farm.
Aegon Asset Management has invested EUR 45 million in the wind farm, with LBPAM providing the remaining EUR 25 million.
AAM, which recently signed the Paris Pledge for Action, 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,” said Harald Walkate, Head of Responsible Investment at Aegon Asset Management.
The Meerwind offshore wind farm is 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.