Igneo Infrastructure Partners has plans to sell a 25 percent stake in Finerge, Portugal’s second-largest sustainable energy producer, to AXA IM Alts.
Finerge, which is owned by infrastructure funds managed by Igneo, operates 77 wind farms and 17 photovoltaic solar plants spread across more than 58 Municipalities in Portugal and five provinces in Spain, according to Finerge’s website. Through these efforts, Finerge said it avoids more than 1,149 kilotons of carbon-dioxide emissions.
Finerge’s operating capacity is close to 2 gigawatts, following 14 bolt-on transactions in Iberia. The investment from AXA IM Alts will support the growth of the platform as it looks to make new investments in the development, construction and operation of wind farms and solar PV plants in Portugal and Spain.
Financial terms were not disclosed, however, AXA IM Alts said the transaction is expected to close by the end of 2023.
“Our conviction is that climate change is th