Allianz joins backers of Amprion power grid in deal with Talanx (updated)
26/03/2026 11:08
Adds details in pars 3, 4, 6 FRANKFURT, March 26 (Reuters) - Allianz SE's ALVG.DE asset management unit will acquire a stake in electricity grid operator Amprion in a deal with insurer Talanx TLXGn.DE to help fund major grid upgrades as Germany transitions to renewable electricity. In a joint statement, Allianz Global Investors and Talanx said they plan to invest "significant capital in the expansion of Germany’s second-largest electricity grid". Allianz's European Infrastructure Fund II would acquire an "indirect stake" from Talanx, which is a member of the M31 consortium that holds 74.9% in Amprion, according to the statement. The companies declined to disclose the deal's size or terms. Talanx signalled last week it plans to reduce its stake in Amprion. Sources told Reuters last month that major owners of the grid operator were considering selling their stakes to new investors. The growing role of intermittent solar and wind energy is creating funding needs for networks across Europe. Amprion plans to invest more than 36 billion euros ($41.60 billion) by 2029. ($1 = 0.8654 euros) (Reporting by Ludwig Burger and Alexander Huebner Editing by Madeline Chambers) ((ludwig.burger@thomsonreuters.com;))