News listings

energy-pedia alternative energy

France flagFrance

Europe / Caspian / CIS >>> France

France: Total farms down two portfolios of renewable assets in France


23 Feb 2021

Photo - see caption

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, has farmed down respectively to Banque des Territoires and Crédit Agricole Assurances half of its equity in two portfolios of renewable projects.

  • Crédit Agricole Assurances acquires a 50% stake in a portfolio consisting of 9 wind farms (103 MW) and 44 solar power plants (182 MW) for a total capacity of 285 MW (100%). 
  • Banque des Territoires takes a 50% stake in a portfolio consisting of 8 solar farms located in New Caledonia with a total capacity of 53 MW (100%). 

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.

'This transaction is in line with our strategy of being a long-term institutional investor and diversifying on behalf of our clients. It is a fully integrated strategy, in line with the Crédit Agricole Group's climate commitments, in favor of energy transition and a low-carbon economy. We are proud of this partnership with Total, which enables us to consolidate our contribution to the energy transition in France,' says Jean-Jacques Duchamp, Deputy Chief Executive Officer of Crédit Agricole Assurances.

'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.

Original article link

Source: Total





Bookmark and Share


A global information service for upstream oil and gas opportunities - divestitures, farmins and farmouts and licensing rounds.


Subscriber Only Deals

Current Deals

Current Upstream Deals: 370

Completed Deals

Completed Upstream Deals: 6030

Company Profiles

Current Company Profiles: 2762

Corporate Activity

Current Corporate Activity articles: 3632

Companies Looking

Current number of articles: 446

Company Sales

Current Company Sales articles:1457

Geostudies

Current Geostudies articles: 780

How to subscribe

energy-pedia Jobs

RSS Feed Widget
See all jobs...


energy-pedia Databank

The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. Read more...



energy-pedia Glossary

A list of commonly used terms in the oil and gas industry. Read more...

Subscribe

Subscribe to the FREE
energy-pedia Daily Newsletter
Subscribe

SLR Consulting logo
Bayphase
OPC
energy365
Rose & Assocs 149
Government of South Australia
KL Publishing
Blue Asterisk
Union Jack Oil 149
About energy-pedia

energy-pedia news is a FREE news service written and edited by E and P professionals for E and P professionals.

We don't just report the news, we give you the technical background as well, with additional information derived from our unique energy-pedia opportunities service.
Contact us

energy365 Ltd

238 High Street
London Colney
St Albans
UNITED KINGDOM

Tel: +44(0)1727 822675

Email: info@energy-pedia.com