Global alternative investments leader AXA IM Alts is set to acquire a 25% stake in an Iberian renewables platform, Finerge, from Igneo Infrastructure Partners. AXA IM Alts manages over €185 billion (US$203 billion) of AuM. Finerge has an operating capacity close to 2 gigawatts (GW), achieved through a series of strategic bolt-on transactions across the Iberian Peninsula. The investment from AXA IM Alts is projected to propel the platform’s growth as it seeks to make additional moves into the development, construction, and operation of wind farms and solar photovoltaic (PV) plants within Portugal and Spain. Julien Gailleton, Deputy Head of Infrastructure at AXA IM Alts, said: “Our conviction is that climate change is the great issue of this century and the central risk of tomorrow. We believe that integrated renewable energy independent power producers like Finerge, which have the capacity to scale as 21st century utilities, will be essential to delivering the energy transition as fast as it is needed.” The deal adds to AXA IM Alts’ growing exposure in the renewable energy sector, building upon its 2022 investment in the Hornsea 2 offshore wind farm in the UK. The collective operating capacity of these investments is projected to reach approximately 3.3 GW. The transaction, which is subject to customary regulatory approvals, is expected to be finalised by the end of 2023.
🆕 We have entered into an agreement to acquire a 25% stake in Iberian #renewables platform Finerge from @IgneoIP. This acquisition on behalf of our clients reflects our conviction in the critical role #infrastructure will play in the energy transition.
— AXA IM Alts (@AXAIMAlts) August 4, 2023