Sale of Epuron Development

Augusta & Co (“Augusta”) is pleased to announce the sale of the Epuron development business headquartered in Paris including a 700+MW pipeline and two wind farms totalling 26MW to ERG Power Generation S.p.A., the Italian renewable energy operator.

The Fund acquired the Epuron development business in early 2011. Under the Fund’s ownership, Epuron has built new wind projects with an installed capacity of 150MW in France. Funding for construction comprised Fund equity and third party non-recourse project finance.

ERG is the leading producer of wind energy in Italy and among the top ten in Europe.

Peter Rossbach, Executive Director at Impax, said: “Epuron was our anchor first investment in the Fund and has been the driver of new or re-permitted asset creation during our ownership. Most of our funding was for construction equity. This sale moves us to the milestone of over 95% exited by value for the Fund.”

Ben Stafford, Associate Director at Impax said: “Epuron has regularly outperformed our expectations and we leave this business in an excellent position in the French wind market. We wish the team and the business well under ERG’s ownership. Impax continues to be active in the French renewables market.”

Augusta & Co acted as exclusive financial adviser to Impax Asset Management in the transaction.