In a strategic acquisition bid, Impax Asset Management has acquired a 100MW power portfolio in Poland and France from European power company Eolia, through its Impax New Energy Investors II fund. While the French assets have contributed towards the expansion of their Paris-based Epuron project, the Polish acquisition, a single 6MW facility, marks its foray into the Polish infrastructure domain, with more acquisitions to follow in the next 18 months.
Eolia (www.eolia.com)
Eolia Renovables de Inversiones, founded in 2007, is a leading European renewable resource power generation company. Headquartered in Madrid, it currently holds a wind farm and photovoltaic plant portfolio of over 1,000MW across Spain, Germany, Poland, France and Canada. Eolia’s strategy for growth is the acquisition of equity stake in mid-cap companies operating in the renewable energy sector; it has over 50 such facilities.
Impax (www.impax.co.uk)
Impax Asset Management group is a London-based investor pool focusing on the renewable energy, water and waste management sectors. With more than 10 years of relevant investment experience in growing markets, Impax currently manages close to GBP 2 billion across a range of fund pools consisting of individual and institutional investors.
Impax New Energy Investors II, a fund managed by Impax Asset Management group, currently holds EUR 330 mln for investments in the alternative energy sector. The acquisition of the Epuron business in France marked the starting point of its portfolio development, with a new 12MW plant in Chaude Vallée in Picardie currently under construction being its latest project.
31/10/2011
Central & Eastern Europe, Environment & Cleantech, Poland, Private Equity News, United Kingdom