The joint venture, called TRE Solar S.r.l., acts as a holding company and aims to invest in Italian solar farms. AXA Private Equity will hold a 65% stake in TRE Solar and Tozzi Group will own the remaining 35%.
The joint venture’s seed investment will be the acquisition of three solar farms in Italy (from the Tozzi Group) with a total apacity of 38MW.
Two projects with a capacity of 10.2 MW in Puglia are already operational, the third project in Emilia-Romagna is currently under construction.
The target is to achieve a minimum capacity of 120MW by 2012.
This joint venture is the latest development of the partnership between AXA Private Equity and Tozzi Group, which was formed in 2007 to invest in renewables. Today they operates and owns more than 438 MW in operation in onshore wind farms, hydroelectric projects and now solar farms in Italy.
Tozzi Group has been operating for more than 50 years in the production of electrical switchboards, electrical and instrument plants, power plants from renewable energy sources and prefabricated equipped containers for power distribution and control/automation systems. It recently diversified in the development and operation of renewable energy projects in Italy and abroad (wind farms, hydroelectric projects, solar projects).