France’s oil major, Total, that produces and markets fuels, natural gas and low-carbon electricity, and operating in 130 countries including Nigeria, has sealed a 50% equity stake with Banque des Territoires through Total Quadran, its renewable electricity production subsidiary in France.
Banque des Territoires signed the agreement upon which it 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.
Banque des Territoires which was, however, created in 2018, is one of the five business lines of Caisse des Dépôts. It brings together all internal expertise designed for the French territories. As a single client gateway, it offers tailor-made advisory and financing solutions in loans and investments in order to meet the needs of local authorities, social housing organizations, local public companies and the legal professions.
It is aimed at all kind of areas, from rural to metropolitan areas, with the aim of tackling social inequalities and territorial divisions. Banque des Territoires is deployed in all Caisse des Dépôts regional divisions and territorial offices in order to be better known and closer to its clients, for more attractive, inclusive, sustainable, and connected territories.
Its entry 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.
President Gas, Renewables and Power at Total, Philippe Sauquet, said: “the entry of a new partner into our projects in operation follows the refinancing performed earlier this year and is in line with the development of our renewable business model, aiming to achieve over 10% return on equity.”
For the Director of the Department of Energy and Ecological Transition at Banque des Territoires, Emmanuel Legrand, “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.”
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.
Meanwhile, Total Quadran, a pioneer of renewable energies in France, develops, builds and operates renewable electricity generation resources (wind, photovoltaic, hydro and biogas). It is operating over 300 renewable energy plants in France totalling nearly 900 MW, generating 1,675 GWh of renewable electricity per year. This is the equivalent of the annual consumption of nearly 1,5 million people and annual savings of nearly 560,000 tons of CO2 emissions.
