AXA Private Equity is paying an undisclosed sum to acquire the French wind energy assets of Australian investment firm Babcock & Brown. The business comprises 15 wind farms with a combined capacity of 163MW. The deal includes the acquisition of Kallista Energies Renouvelables and Kallista France which will be held through a holding company. AXA will retain Babcock’s existing management team.
In June, Babcock sold its North American wind energy assets to US-based private equity firm Riverstone. Babcock went into administration in March as a result of mounting debt and a plummeting share price.
In February, AXA formed a joint venture with Italy’s Tozzi Group to develop renewable energy projects in the country. The joint venture, called TRE & Partners, has a combined capacity of 400MW under development.
StrategyEye's related companies: Babcock & Brown, AXA Private Equity
