2024-03-28
http://w3.windfair.net/wind-energy/news/23905-engie-absorbs-onshore-portfolio-of-maia-eolis-into-jv-feih

ENGIE absorbs onshore portfolio of MAÏA EOLIS into JV FEIH

ENGIE and Crédit Agricole Assurances want to strengthen their onshore wind power partnership in France by doing so.

ENGIE absorbs onshore portfolio of MAÏA EOLIS into JV FEIHENGIE absorbs onshore portfolio of MAÏA EOLIS into JV FEIH

ENGIE, France’s market leader in onshore wind with installed capacity above 1,700 MW at the end of 2016, has strengthened its partnership with Crédit Agricole Assurances by absorbing the onshore wind portfolio of MAÏA EOLIS, acquired in May 2016, into the two groups’ joint venture FEIH.

The presence of a top-ranking investor partner like Crédit Agricole Assurances will enable ENGIE to continue pursuing its ambitious objectives in terms of industrial growth and balance sheet optimization, while also further developing its strong regional footing.

Under the agreement, the wind farms operated by MAÏA EOLIS – representing total installed capacity of 267 MW – will be transferred to FEIH, the joint venture established by ENGIE and Crédit Agricole Assurances. Since its creation in 2013, the partnership has allowed ENGIE to reduce its net debt by around €400 million and continue to develop its presence in wind energy while also limiting its capital expenditure. The joint venture now operates installed onshore wind power capacity of 810 MW in France.

“This deal strengthens the ambitious long-term strategic partnership initiated in 2013 between ENGIE and Crédit Agricole Assurances, the aim of which is to enlarge our shared portfolio of wind power assets in keeping with ENGIE’s ambitions of doubling its wind power capacity in France within the next five years,” states Gwenaëlle Huet, ENGIE Chief Executive Officer France Renewable.

With this partnership, Crédit Agricole Assurances - France’s leading insurance company - continues to pursue its long-term institutional investor strategy, illustrated by the financing of large-scale projects that contribute to the transition to new energy sources. “Thanks to this partnership, Crédit Agricole Assurances will bolster its presence in the infrastructure and renewable energy market, a sector in which the group acts as a major investor in France and across Europe,” states Jean-Jacques Duchamp, Deputy Managing Director of Crédit Agricole Assurances. Management of the partnership has been delegated to Omnes Capital, France’s market leader in private equity dedicated to the energy transition. Serge Savasta, Managing Partner at Omnes Capital comments: “We are very pleased to be supporting Crédit Agricole Assurances in the development of this partnership, which will reinforce the roll-out of renewable energy projects across France.”

Quelle:
ENGIE
Link:
www.engie.com/...
Windenergie Wiki:
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