German insurer Allianz SE (ALV.XE) is holding talks with a unit of Dutch electricity grid operator Tennet Holding BV and the German environmental ministry regarding investments in offshore wind parks worth billions of euros, according to an article in German magazine Der Spiegel.

Until now, talks between Allianz and Tennet haven't been fruitful as the Dutch company is also negotiating with other investors and doesn't want to make a commitment, the report says.

An Allianz spokesman declined to comment on the talks, but Allianz said last autumn that it owns 34 wind farms and is "closely eying" investment in offshore wind parks.

Tennet is responsible for connecting offshore wind farms in the German North Sea to the country's power grid, but has recently been criticized for delays in the project.

The company couldn't be reached immediately for comment.

Magazine website: http://www.spiegel.de

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