This news is classified in: Sustainable Energy Wind
Feb 23, 2021
In line with its business model for the development of its renewables business, Total, through Total Quadran - its 100% renewable electricity production subsidiary in France, farms down respectively to Banque des Territoires and Crédit Agricole Assurances half of its equity in two portfolios of renewable projects.
These farm-down transactions value these portfolios (close to cumulative 340 MW) at an enterprise value of around $600 million for 100%. They derisk the Group portfolio, accelerate cash flow recognition and increase the return on equity.
"These farm downs are the implementation of the business model we have defined for the development of renewable energies aiming to achieve over 10% return on equity. We are delighted to deepen our partnerships with both Banque des Territoires and Crédit Agricole Assurances" said Julien Pouget, Senior Vice President Renewables of Total.
by Technology (Alkaline Electrolyzer, Polymer Electrolyte Membrane (PEM) Electrolyzer), Renewable Source (Solar Energy, Wind Energy), Distribution Channel, Application
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"This acquisition illustrates the Banque des Territoires' determination to provide long-term support to players in the energy transition in the deployment of new renewable energy projects in mainland France and the French overseas territories," says Emmanuel Legrand, head of the Banque des Territoires' Energy and Environmental Transition Department.