AXA portfolio firm acquires Brittany wind assets

Kallista Energy, the French wind farm operator that is 100 percent-owned by AXA Private Equity, has acquired the Brittany wind farm assets of Neoelectra Group, a Paris-based private energy producer. The project has attracted finance from OSEO and Societe Generale.

Paris-based fund manager AXA Private Equity, through its wind development subsidiary, Kallista Energy, has acquired the wind farm assets of Neoelectra Group in Brittany, a press release issued by the company said.  The transaction was completed with the support of AXA Private Equity’s infrastructure team.

The report said that the current acquisition increases the number of wind farms operated by Kallista Energy in France from 15 to 19 and its installed capacity to 194.5 megawatts. With a significant presence in northern France, Kallista Energy will soon surpass 200 megawatts of wind farms in operation with the upcoming construction of the Ardouval wind farm in the north of France.

Mathias Burghardt, head of infrastructure at AXA Private Equity, commented: “We take great satisfaction in taking part in a new stage of Kallista’s growth, which will help strengthen its position in the renewable energy market in France.”

He also said that the acquisition marks Kallista's aim to diversify its wind portfolio and remain among the top five wind farm operators in France. Picking the right asset at the right time, he said, is a key priority.

The project will receive an undisclosed amount of finance from French government innovation agency OSEO and banking group Societe Generale.

AXA Private Equity is one of four infrastructure investors – along with Antin Infrastructure Partners, Goldman Sachs and Macquarie – reported to have expressed an initial interest in buying Spanish utility Endesa’s gas network in a deal that could be worth over €700 million.

The firm has $25 billion in managed assets and operates across Europe, North America and Asia.