MUNICH RE MAKES WIND ENERGY INVESTMENT

German reinsurer Munich Re has announced plans to invest up to €2.5bn ($3.35bn) in renewable energies and ne environmental technologies over the next few years and that, as part of this initiative, at the turn of the year the company is buying 40 wind turbines in 11 wind parks with an overall output of 73 megawatts. The acquisition is via Munich Re's asset manager MEAG. The €100m-plus investment is part of the reinsurers RENT (Renewable Energy & New Technologies) programme. The wind parks are all in regions of Germany and nearly all are on the National Grid. To date Munich Re's RENT investments have been limited to photovoltaic panels in Germany and elsewhere in Europe. Meanwhile, Munich Re, through its subsidiary Munich Health North America Inc, has closed its acquisition of US-based Medicare provider Windsor Health Group for $131m in cash (IIN 24, October 26 2010).