AXA IM Invests in 2GW Iberian Renewables

• AXA IM Alts to acquire 25% stake in Finerge, a 2GW renewables platform, to enable decarbonization and electrification investments in Portugal and Spain. Investment to be finalized by end of this year.

AXA IM Alts, a division of French insurer Axa SA, has agreed to purchase a 25% stake in Finerge, a Portuguese renewables platform with 2 GW of assets. The investment, which is expected to be finalized by the end of this year, will go towards further investments in the development, construction, and operation of wind and solar parks in Portugal and Spain. The acquisition will enhance AXA IM's portfolio investments in the renewables sector and support its strategy of investing in assets that enable decarbonization and electrification. Last September, AXA IM invested in the 1.3 GW Hornsea 2 offshore wind farm in the UK, taking its total operating capacity to 3.3 GW.

What Impact Will AXA IM's 25% Stake in Finerge Have?

• The 25% stake in Finerge will further solidify AXA IM's position in the European renewable energy market, and will enable them to develop and invest in renewable energy projects across Portugal and Spain.
• The investment in Finerge is expected to drive further growth for AXA IM's renewable energy portfolio, as the company continues to focus on decarbonization and electrification.
• The partnership between AXA IM and Finerge will create additional opportunities for the two companies to collaborate and drive further growth in the European renewable energy market.
• The acquisition of a 25% stake in Finerge is expected to bring new, innovative green technologies and products to the market, that will result in more efficient and cost-effective energy production.
• The partnership between AXA IM and Finerge is in line with AXA IM's sustainability agenda and commitment to the Paris Agreement of 2015, which aims to reduce global greenhouse gas emissions.
• The increased presence in the European renewable energy market is expected to bring a positive impact on the economy, creating new jobs and economic opportunities.