Kallista, the French wind energy firm which was acquired by Paris-based fund manager AXA Private Equity (AXA PE) from Babcock & Brown in 2009, has completed its first greenfield project since 2010.
The Ardouval Park wind farm in Seine-Maritime, on the northern coast of France, was 100 percent equity-financed and developed by Kallista. The farm, which includes five wind turbine facilities, has a production capacity of 12 megawatts (MW).
The new project brings Kallista’s total operating wind capacity to 321MW. In May this year, Kallista acquired two winds farms in Picardie, northern France, making it France’s third-largest wind producer.
Following AXA’s acquisition, Kallista has taken over wind assets in Brittany from Neoelectra Group in 2010, and Poweo ENR’s wind farms from Austrian electricity company Verbund in 2011.
AXA PE now has around 700MW of European wind, solar and hydraulic production under management.
In March this year, AXA PE closed its third infrastructure fund on €1.45 billion plus €300 million for co-investments. Shortly after the closing of the fund, it announced its spinout from insurance group AXA in a deal valued at €510 million including debt.