Axpo has agreed the sale of three wind farms in France with a combined capacity of 72MW to an Article 9 fund advised by EB – Sustainable Investment Management (EB-SIM).
The 18MW Aiguillettes, 28.8MW Moulin Berlémont and 25.2MW Pâtis aux Chevaux wind power plants are located in the Centre-Val de Loire, Hauts-de-France and Nouvelle-Aquitaine regions of France.
Equipped with Nordex and Vestas turbines, the three sites were developed and commissioned by Volkswind in 2022.
Axpo will continue to provide technical and commercial management services for the portfolio following the sale.
The parties have agreed not to disclose details of the sale price.
The transaction is subject to customary conditions and closing is expected in the first half of 2024.
EB-SIM, a wholly-owned subsidiary of the Evangelische Bank eG, is acting as the fund’s advisor and will continue to assist the fund in managing the investment after the transaction closes.
Axpo head of wind division Katja Stommel said: “One of Axpo’s three strategic pillars is to advance the energy transition and build up renewables.
“Once again we are pleased to successfully sell an attractive portfolio of wind farms in one of our key markets and thus generate value from the implementation of this strategy.
“Our business in France has an abundant development pipeline.”
Managing director and head of alternative assets at EB-SIM, Dr Bernhard Graeber, added: “By investing in projects in France, Spain, Portugal, Germany and many other European countries, we are supporting the European Union’s climate targets.
“Our aim is to achieve both an environmental and an economic return for the investors in all the funds we advise and manage.”
As part of the Sustainable Finance Disclosure Regulation (SFDR), Article 9 funds make a positive impact on society or the environment through sustainable investment and have a non-financial objective at the core of their offering.