Albéa is the concessionaire of the A150 toll motorway in Normandy.
Albéa was awarded in 2011 a 55-year concession to build, finance and operate the A150, a toll motoroway between Ecalles-Alix to Barentin (Normandy, France). The 18 km long section comprises 2×2 traffic lanes with emergency lanes, a toll barrier gate designed for peak traffic and a 478 m long viaduct. Albéa opened to traffic and started commercial operations in February 2015.
We invested in Albéa in 2011 as part of the original consortium with our construction partners NGE and Fayat. During our holding period, the motorway was built on time and on budget, operations and maintenance activities were fully ramped-up, enabling sustainable traffic and revenue growth. In 2017, we have driven the refinancing of the business with an institutional debt aligning with the long-term profile of the concession, hence providing significant de-risking and yield generation potential. We realized our investment in 2018 following the completion of this significant milestone.