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Talanx and BayWa r.e. reach agreement

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The Talanx Group is transferring technical and commercial operations management of its onshore wind farm portfolio to the Munich-based BayWa r.e. The renewable energy company specialises inter alia in the operation of wind and solar farms. The number of operators for the altogether 112 wind turbines located in France and Germany will thus be progressively reduced from the current seven operators to just one, thereby enabling Talanx to benefit from process-optimised and more cost-effective management of the individual plants. The total output of the portfolio is more than 300 MW, equivalent to providing some 240,000 households with sustainably generated energy.

"In BayWa r.e. we have found an expert, seasoned partner for the operations management of our portfolio", Dr Peter Brodehser, Head of Infrastructure Investments at Talanx, notes. "Overall management by a single provider lets us work on a more cost-effective and focused basis on the investor side because we are considerably simplifying the operational processes – especially reporting processes – and are thus able to concentrate more on creating value added in the portfolio." 

"We have consistently expanded our services portfolio on the operations management side in recent years and we are committed to the highest service quality. The fact that we were able to win out in the tender process for managing the plant operations of such a large and highly reputed institutional investor as Talanx offers further proof that our strategy is paying off over the long term", Marc Niem, Managing Director of BayWa r.e. Operation Services GmbH, explains. These services include, among other things, 24/7 data analysis, maintenance readiness and operations management to ensure smooth running of the wind farms. 

"The cooperation with BayWa r.e., one of Europe's leading providers of operations services for renewable energy plants, constitutes another key element in our efforts to comply with the goals of the Paris Agreement on climate change to which we, as a company, are committed", Dr Peter Brodehser emphasises. 

Talanx AG is continuously expanding its investments in renewables and climate-friendly technologies. The Group has already made direct investments of more than EUR 1.3 billion in renewable energy sources (wind and solar). Not long ago it defined its underwriting policy on coal-based risks and with immediate effect is no longer providing insurance coverage for any planned new coal-fired power stations or coal mines. On the investment side, the Group continues to practise its existing policy of not making any new investments in companies that generate at least 25 percent of their total revenues from coal-based sources.

About Talanx

With premium income of EUR 34.9 billion (2018) and about 20,000 employees, Talanx is one of the major European insurance groups. The Hannover-based Group is active in more than 150 countries. Talanx operates as a multi-brand provider with a focus on B2B insurance. Under the HDI brand, which can look back on more than 100 years of tradition, Talanx operates both in Germany and abroad in industrial insurance as well as retail business. Further Group brands include Hannover Re, one of the world’s leading reinsurers, Targo insurers, PB insurers and neue leben, the latter all specialised in bancassurance, as well as the Polish insurer Warta. Ampega is one of the top asset management companies in Germany and manages the assets of the Talanx Group. It is also an experienced provider of solutions for non-group institutional investors. The rating agency Standard & Poor’s has given the Talanx Primary Group a financial strength rating of A+/stable (strong) and the Hannover Re Group one of AA–/ stable (very strong). Talanx AG is listed on the Frankfurt Stock Exchange in the SDAX as well as on the stock exchanges in Hannover and Warsaw (ISIN: DE000TLX1005, German Securities Code: TLX100, Polish Securities Code: TNX).

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Felix Gmelin
Communication Manager
BayWa r.e. AG
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