AXA IM Alts, an alternative investor, has recently reached an agreement to acquire a 25% stake in Finerge, a prominent renewables platform in the Iberian region, from Igneo Infrastructure Partners.
The transaction, conducted on behalf of AXA IM Alts’ clients, is subject to standard approvals and is expected to be finalized by the end of 2023.
Finerge currently operates close to 2GW of capacity, achieved through 14 additional acquisitions in the Iberian region.
This investment will support the platform’s expansion as it seeks to make further investments in the development, construction, and operation of wind farms and solar PV plants in Portugal and Spain.
The acquisition underscores AXA IM Alts’ strong belief in the crucial role of infrastructure in the energy transition necessary for establishing a net-zero economy and mitigating climate risks.
The investor’s strategy revolves around investing in assets that facilitate decarbonization, electrification, and digitalization to support this cause.
This transaction also expands AXA IM Alts’ presence in the renewable energy sector, building on its previous investment in the Hornsea 2 offshore wind farm in the UK in 2022.
With this latest addition, the total operating capacity of its projects now reaches around 3.3GW, and its total infrastructure equity assets under management exceed €4 billion.
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