Paris-based AXA Private Equity has made an investment in French photovoltaic energy player, JIT Solaire, the company said in a statement.
The French private equity and infrastructure firm has invested €3 million into the solar energy group to help accelerate development.
Based in Poitou-Charentes and Rhône-Alpes regions in France, JIT Solaire installs turnkey electricity-generating solar systems for individuals, companies and local authorities. As at July 2010, the group had installed more than 6 MWp (megawatt-peak) of electricity-generating solar systems, according to the press release.
AXA Private Equity, a subsidiary of AXA investment Managers, has total assets of $25 billion.
The firm offers direct funds, infrastructure financing, mid cap and small cap buyout, venture capital, co-investments, fund of funds as well as mezzanine financing.
Recently, the group through its wind farm operator, Kallista Energy, acquired the Brittany wind farm assets of Neolectra Group, a Paris-based private energy producer, increasing the number of wind farms operated by Kallista Energy in France from 15 to 19. The installed wind farms have a total capacity of 194.5 megawatts.
AXA currently manages $2 billion of infrastructure investments worldwide, and has invested more than €500 million into six transactions in the transport, energy, water distribution and waste treatment sectors in France, the UK and Italy since 2005.