Ergo Asset Management arm aids reinsurer’s energy target

Munich Re has bought three wind farms in the UK with a total output of 102 megawatts.

The reinsurer’s Munich Ergo Asset Management arm bought the Tir Mostyn farm in wales, Scout Moor outside Manchester and Bagmoor in Lincolnshire.

Munich Re currently invests £472.8m (€600m) in renewable energy and wants to increase this to £1.97bn (€2.5bn), according to The Daily Telegraph.