AXA Infrastructure Fund III acquires two wind farms in France

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AXA Infrastructure Fund III acquires two wind farms in France

AXA Infrastructure Fund III, the €1.75 billion fund owned by AXA Private Equity that closed last month, has made its fifth investment. The firm announced yesterday that it has acquired, through its subsidiary Kallista platform1, two wind farms from a company of the London-based Group HgCapital.

Kallista now becomes the third biggest producer of wind energy in France, with more than 320 MW of wind capacity in operation or under construction.

This acquisition adds a production capacity of 23MW and makes Kallista the third biggest producer of wind energy in France. The Enercon facilities in Bougainville and Saint-André, both located in Picardie (France), close to existing Kallista farms, will enable the company to diversify its technological mix with the introduction of a new turbine supplier. Kallista is active in both brownfield and greenfield investment, and, from September, will develop all new constructions in the Ardouval park in SeineMaritime, which represents a capacity of 12 MW.

AXA Private Equity acquired Kallista Renewable Energy from Babcock & Brown in 2009. This allowed Kallista to make numerous acquisitions, such as the Neoelectra Group in 2010 and Poweo ENR in 2011. In four years, Kallista's wind power has almost doubled.

This operation follows several investments made by AXA Private Equity in the renewable energy sector in Europe in recent years, one such example is the development of a renewable energy platform alongside Tozzi Group in Italy. The latest project resulting from this partnership is the construction of four new wind farms, which will have the capacity to produce close to 40 MW. With this recent investment, AXA Private Equity's renewable energy capacity is projected to be more than 700 MW.

Source: AXA Private Equity

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