Infrastructure Investments

Tozzi Wind Farms

Activity :

Tozzi group, an Italian industrial company based in Ravennes, operating in the energy sector for over 20 years, diversified into renewable energies and developed wind farms in Italy. With  Enercon GmbH, retained as turbine supplier  (3rd largest supplier in the world), Tozzi group is developing four wind farms in the Pouilles region, with a total capacity of 136MW.

History :

Invited by the Tozzi Group, in May 2007, AXA Private Equity undertook to acquire a 30% ownership in each of the four project companies  dedicated to the operation of wind farms. The first investment was made in July 2007, upon completion of the construction of the Calvello wind farm (41MW capacity) .

Strategy :

Under Italian regulatory framework, the grid operator has an obligation to acquire all the electricity produced by  renewable energy projects. In addition,  it allows wind farm projects to charge a premium –the Green Certificates- over the first 12 years of operation. This supportive framework enables AXA Private Equity to  benefit from attractive returns from the beginning of  the project operation.