Caisse des Dépôts et Consignations, France’s public interest financial institution, has acquired a 49.9% stake in onshore wind farm company Aalto Power.
The terms of the deal were not disclosed.
Caisse des Dépôts bought the stake from InfraVia Capital, an infrastructure specialist.
Aalto Power has a portfolio of nine wind farms in France with an aggregate capacity of 99 MW.
The company is majority-owned by holding company Aïolos, in turn controlled by the Prométhée group.
Aïolos and Caisse des Dépôts have a target to double the strength of the Aalto Power platform in the medium term, according to a statement.
Caisse des Dépôts has supported the renewable energy sector with €363m of investments since 2007, according to a spokesperson at the institution.
The closing of the Aalto Power deal comes after Caisse des Dépôts signed a deal in November last year to acquire a stake in three onshore wind farms developed by La Compagnie du Vent, part of Engie, the renamed EDF group.
The agreement was for the acquisition of a 49.9% stake and voting rights.
CDC has made renewable energy a strategic priority as part of its commitment to financing the transition to a low-carbon economy.