Allianz Global Investors has agreed to acquire an indirect stake in Amprion, Germany’s second-largest electricity grid operator, from Talanx Insurance Group. The deal, which marks Allianz’s first direct equity investment in a German electricity grid, involves Allianz insurance companies and the Allianz European Infrastructure Fund II. The transaction is expected to close in the second quarter of 2026.
Amprion operates an extra-high-voltage grid spanning more than 11,000 kilometers and supplies electricity to approximately 29 million people across Germany. The partnership plans significant capital investments to construct or upgrade 9,300 kilometers of power lines in the coming years, supporting Germany’s energy transition goals and its 2045 climate neutrality target.
Mario Skoric, CEO of Allianz Investment Management, said infrastructure investments are “a key component of our investment strategy,” particularly electricity grids essential to decarbonization. Edouard Jozan, Head of Private Markets at AllianzGI, noted the investment complements existing German portfolio holdings including battery storage and renewable energy assets. Talanx CFO Dr. Jan Wicke emphasized that modern grid capacity is critical for Germany’s climate ambitions.