Total Sold 50% of Wind and Solar Assets in France
Total, through Total Quadran – its renewable electricity production subsidiary in France, and Banque des Territoires have signed an agreement upon which Banque des Territoires takes a 50% equity stake in Total Quadran’s portfolio of solar and wind energy assets in France of a total capacity of 143 MW. This portfolio consists of 11 wind farms and 35 solar power plants, with a cumulative capacity of 96 MW and 47 MW respectively and has been valued at around 300 Million euros (100%) in this transaction.
The entry of Banque des Territoires into both portfolios alongside Total Quadran will enable Total Quadran to pursue further development of renewable energy projects in France in partnership with a locally established payer committed to regional development.
“The entry of a new partner into our projects in operation follows the refinancing performed earlier this year and is in line with our renewables development business model, aiming to achieve over 10% return on equity”, said Philippe Sauquet, President Gas, Renewables and Power at Total.
“We invest in renewable energies to support stakeholders and public policies actively engaged in energy transition and the development of more sustainable and environmentally friendly communities. This acquisition fully supports our ambition: helping to roll out new renewable energy projects in France,” said Emmanuel Legrand, Director of the Department of Energy and Ecological Transition at Banque des Territoires.
Through Banque des Territoires, Caisse des Dépôts takes environmental, social and governance factors into account in its investment decisions. This structuring transaction is yet another illustration of its commitment to these major issues.
