Impax Asset Management has rejigged its disposal plans for French renewables developer and IPP Energiter, it is understood.

The UK-based fund manager began a process to divest the platform in H1 2024, supported by financial advisor Rothschild & Co.

However, it is since believed to have called off a sale of the business at topco level, and has instead over recent weeks begun sounding out investors over the sale of platform’s operating assets and advanced project pipeline instead, according to market sources.

Impax via its New Energy Investors III fund acquired Energiter (then Eurocape) in late 2018, and has since overseen the continued development of multiple of the company’s onshore wind and solar PV projects across France over recent years, including a circa 77MW portfolio of largely operational solar projects divested to Swiss investor Quaero in summer 2022.

Energiter currently owns and operates around 70 MW of installed onshore wind capacity, while its development pipeline stands at around 1.5 GW, of which around two-thirds is onshore wind and the remainder solar PV.

Impax AM declined to comment.

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