AllianzGI acquires a stake in Amprion, Germany's second-largest electricity grid operator

Allianz Global Investors (AllianzGI) announced on March 26, 2026, the signing of an agreement to acquire an indirect stake in Amprion, operator of Germany's second-largest electricity transmission grid, from the Talanx group. The deal marks Allianz's first direct equity investment in a German electricity grid. AllianzGI is acting on behalf of Allianz insurance companies and the Allianz European Infrastructure Fund II. Talanx participates through M31 Beteiligungsgesellschaft, the entity holding a 74.9% stake in Amprion.

An extra-high-voltage network spanning more than 11,000 km

Amprion operates an extra-high-voltage (EHV) grid stretching over 11,000 km and supplies electricity to around 29 million people across Germany, from the North Sea to the Alps. The operator ranks among Europe's leading transmission system operators. To meet the demands of the energy transition, Amprion will need to construct or upgrade a total of 9,300 km of power lines in the coming years.

Édouard Jozan, Head of Private Markets at AllianzGI, says the investment in Amprion complements the group's existing portfolio in Germany, which already includes the first German-British electricity interconnector, a recently announced battery storage project, and wind and solar farms. The transaction is part of a long-term strategy focused on critical energy infrastructure. Both partners intend to commit significant capital to expanding the grid over the coming years.

Climate neutrality by 2045 and energy security at the core of the partnership

Dr. Jan Wicke, Chief Financial Officer of Talanx AG, notes that achieving climate neutrality by 2045 requires a significant increase in the share of renewable energy fed into the grid. A modern and efficient network is seen as essential to that transformation. For Talanx, Amprion has been a stable asset since 2011, according to Dr. Thomas Mann, Chief Investment Officer of Ampega Asset Management GmbH, who says both partners intend to support Amprion's long-term growth trajectory with additional investments and their network.

Mario Skoric, Chief Executive Officer at Allianz Investment Management, describes electricity grids as the backbone of a decarbonised energy system. The deal is intended, in his words, to strengthen the resilience of the energy supply while giving Allianz clients exposure to attractive long-term growth trends. The financial terms of the transaction were not disclosed.