AXA Private Equity, the leading European diversified private equity firm, and Neoen, the French independent renewable producer, announced today that they have signed an agreement to acquire Poweo’s renewable energy activities from Verbund (Austria). Poweo ENR group is one of the leading independent renewable power players in France, with more than 120 MW of renewable power projects in operation, as well as a large portfolio of projects in development in onshore & offshore wind, solar and biomass assets. AXA Private Equity and neoen will together, as a consortium, acquire all of Poweo ENR group. It is envisioned that in a second phase, AXA Private Equity will retain the wind assets in operation in France, while Neoen will retain other activities such as the PV solar farms in operation in France, the assets under development (solar, onshore wind, and biomass projects in France, Italy and Poland), and Poweo’s position within the leading offshore wind consortium.