- Finerge is an Iberian renewables platform
- Axa IM Alts is a global firm in alternative investments with over €185bn of assets under management
- Finerge’s operating capacity is currently close to 2GW
AXA IM Alts announced it has entered into an agreement to acquire a 25 percent stake in Iberian renewables platform Finerge from Igneo Infrastructure Partners.
Headquartered in Matosinhos in Portugal, Finerge’s current operating capacity is close to 2GW, following 14 bolt-on transactions in Iberia.
The platform looks to make further investments in the developing, constructing and operating of wind farms and solar PV plants in Portugal and Spain, according to a press statetement.
The transaction follows AXA IM Alts’ 2022 investment in Hornsea 2 offshore wind farm in the UK, bringing the total operating capacity of its investments to around 3.3 GW and its total infrastructure equity assets under management to over €4 billion, the release added.
“Our conviction is that climate change is the great issue of this century and the central risk of tomorrow,” Julien Gailleton, deputy head, infrastructure at AXA IM Alts. “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.”
Axa IM Alts is a global firm in alternative investments with over €185 billion of assets under management.
AXA Investment Managers (Axa IM) is an asset manager that manages around €842 billion in assets as at the end of March 2023. The firm is based in Paris, France.