Deals

AXA bags Babcock wind assets

The French private equity is to acquire 15 French wind farms from Babcock & Brown International through its infrastructure fund.

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AXA Private Equity has agreed to acquire Babcock & Brown International Group’s French wind assets.

In a statement AXA said that through its infrastructure fund it is to acquire Kallista Energies Renouvelables and Kallista France from Babcock. The wind farm platform comprises 15 facilities with a total generation capacity of 163 megawatts. The wind farms are located to the north, west and south of Paris.

The acquired stakes will be held through renewable energy-focused holding company Holding Energies Renouvelables. AXA said it plans to make further investments through the vehicle. French water group SAUR, in which AXA Private Equity holds a 17 percent shareholding, supported the group in the investment.

AXA Private Equity said it will keep the existing management team of the wind assets, led by Frédéric Roche, in place. The value of the transaction has not been disclosed.

Earlier this year AXA Private Equity teamed up with Italian industrial group Tozzi to invest in a bundle of renewable energy projects in Italy.

Last month a group of former Babcock & Brown infrastructure investment bankers completed the management buyout of the €2.2 billion Babcock & Brown European Infrastructure Fund (BBEIF), renaming it Arcus European Infrastructure Fund I.