Allianz Capital Partners acquired Ourika, a pioneering project at Iberian level and will be one of the first large solar power plants in operation that has no guaranteed tariff supported by taxpayers, but rather relies on a corporate PPA, power plant from WE Energy. Financial terms were not disclosed. “We are delighted to partner with the experienced developer WElink on this project, which is our first investment in a solar project in Portugal. Ourika is a very valuable ESG (Environmental, Social, Governance) -conform addition to our climate-friendly portfolio, which now exceeds 90 solar farms and wind parks. This investment proves the importance of renewable energies for the investment portfolio of Allianz being one of the leading European investors in this sector. We hope to invest in more subsidy free solar projects across many European markets in the future and look forward to further projects with WElink or other experienced counterparties.” says Marc Groves-Raines, Head of Renewables at Allianz Capital Partners.