Nephila Climate And Allianz Close Proxy Revenue Swap And Corporate PPA For Macquarie Capital's Lal Lal Wind Farm

The 228 MW Lal Lal project, located in Central Highlands, Victoria, expects to begin producing energy in the third quarter of 2019. In total, the Proxy Revenue Swap product has now been transacted on more than one GW of renewable energy (wind and solar) development projects.

The 228 MW Lal Lal project, located in Central Highlands, Victoria, expects to begin producing energy in the third quarter of 2019. In total, the Proxy Revenue Swap product has now been transacted on more than one GW of renewable energy (wind and solar) development projects.

Nephila Climate's CEO Richard Oduntan said: "NCx is delighted to provide innovative solutions to another wind farm development while simultaneously helping a commercial and industrial consumer of electricity purchase green energy in the form that suits their needs."

Allianz's Managing Director Karsten Berlage also noted "We are excited to create and commercialize this new risk management tool for the Australian renewables industry following our successful provision of hedging solutions for investments in North America."

Key advisers on the transactions included:

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About Nephila
Nephila Capital Ltd is a leading investment manager specializing in reinsurance risk. Nephila offers a broad range of investment products focusing on instruments such as insurance-linked securities, catastrophe bonds, insurance swaps, and private transactions. Nephila Climate (NCx) is a dedicated weather risk transfer and ESG-driven business. Nephila Capital Ltd has assets under management of approximately $11.7 billion as of April 1 2018 and has been managing institutional assets in this space since it was founded in 1998. The firm has over 120 employees based in their Bermuda headquarters, San Francisco, CA, Nashville, TN and London. Further information can be found at www.nephila.com or www.nephilaclimate.com 

About Allianz Global Corporate & Specialty
Allianz Global Corporate & Specialty (AGCS) is the Allianz Group's dedicated carrier for corporate and specialty insurance business. AGCS provides insurance and risk consultancy across the whole spectrum of specialty, alternative risk transfer and corporate business: Marine, Aviation (incl. Space), Energy, Engineering, Entertainment, Financial Lines (incl. D&O), Liability, Mid-Corporate and Property insurance (incl. International Insurance Programs). Worldwide, AGCS operates with its own teams in 34 countries and through the Allianz Group network and partners in over 210 countries and territories, employing almost 4,700 people of 70 nationalities. AGCS provides insurance solutions to more than three quarters of the Fortune Global 500 companies, writing a total of €7.4 billion gross premium worldwide in 2017. AGCS is rated AA by Standard & Poor's and A+ by A.M. Best. For more information please visit www.agcs.allianz.com or follow us on Twitter @AGCS_InsuranceLinkedIn and Google+.