AXA Private Equity has carried out the fifth investment from its Infrastructure Fund III through the acquisition of two wind farms from HgCapital.
Kallista Renewable Energy, which is entirely owned by AXA, has become the third biggest producer of wind energy in France though the purchase of wind installations with a total capacity of 23MW.
The deal boosts Kallista’s assets to 321MW and will enable the company to diversify its technological mix with the introduction of a new turbine supplier.
The Enercon facilities are located in Bougainville and Saint-André, both located in Picardie, close to existing Kallista farms.
AXA acquired Kallista from Babcock & Brown in 2009 and has since developed the business through the acquisitions of Neoelectra Group in 2010 and Poweo ENR in 2011.
AXA Private Equity has made several investments in renewable energy across Europ including the development of a renewable energy platform alongside Tozzi Group in Italy.
Mathias Burghardt, head of infrastructure at AXA Private Equity, said, “This is the fifth operation made through AXA Infrastructure Fund III, our fund which reached €1.75m when it closed in March.
“We are delighted to expand our wind capacity with this investment. It is a perfect fit to our strategy of investing in core infrastructure assets in Europe. Europe provides very attractive deal flow opportunities to build a core infrastructure portfolio, which offers protection against inflation and low volatility.”
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