Transaction: AXA IM Alts Acquires 25 Percent in Iberian Renewable Energy Platform

Paris La Defense, France - AXA IM Alts, a global leader in alternative investments with more than €185 billion in assets under management, has entered into an agreement with Igneo Infrastructure Partners to acquire a 25 percent stake in Finerge, a Portuguese operator of wind and solar farms.

The transaction is subject to customary approvals and is expected to close by the end of 2023. Finerge's wind and solar farm capacity in the Iberian Peninsula currently stands at nearly 2,000 MW. AXA IM Alts investment is expected to support the growth of Finerge, which plans further investments in the development, construction and operation of wind farms and photovoltaic plants in Portugal and Spain.

This transaction further expands AXA IM Alts' commitment to renewable energy following its investment in the Hornsea 2 offshore wind farm in the UK in 2022, bringing the total operating capacity of its investments to approximately 3.3 GW and total infrastructure equity under management to over €4 billion.

"Our conviction is that climate change is the great issue of this century and the central risk of tomorrow. We believe that integrated renewable energy independent power producers like Finerge, which have the capacity to scale as 21st century utilities, will be essential to delivering the energy transition as fast as it is needed," Julien Gailleton, Deputy Head of Infrastructure at AXA IM Alts, welcomes the transaction.

Source: IWR Online, Aug 08 2023