Amundi Energy Transition brings together fifteen institutional investors with the European Investment Bank to finance projects for energy transition
Amundi Energy Transition (AET), the joint venture between Amundi (60%) and EDF (40%) announces that, after only one year of marketing[1], it has raised more than EUR 500 million in equity capital from institutional investors to finance projects for energy transition among French regions and industries. The European Investment Bank, for an amount of 50 million euros, and Crédit Agricole Assurances are the leading investors
Thanks to this capital raising, AET will have an investment capacity in excess of EUR 2 billion (including leverage. AET now aims to invest more than EUR 600 million in green projects for French regions by the end of 2018, which would be significantly earlier than initially anticipated.
To date, five investments to combat climate change have been closed with Dalkia, the French leader in energy services and heating networks.
These investments financed more than 150 energy transition plants for industrial sites and local authorities. These highly efficient energy co-generation plants (or Combined Heat Power – CHP), including two large-capacity biomass plants, have an installed capacity of over 350 MW and represent more than EUR 400 million in investments (including leverage). Local authorities and industrial sites will thus be supported over the long term by local financial partners for sustainable development.
These initial achievements were based on the expertise and industrial capabilities of Dalkia, one of the leading players in heating and cooling networks in France, with more than 320 heating and cooling networks in operation in 2017 and more than 80,000 energy efficiency plants under management.
These operations are one of the first concrete green finance achievements combining industry and finance, for the implementation of the COP 21 objectives set out by the Paris Agreement.
According to the UN, cities consume 78% of the world's energy and are responsible for over 60% of CO2 emissions. They are therefore the main target of the French Energy Transition Act which aims to reduce energy consumption and greenhouse gas emissions.
The European Investment Bank and Credit Agricole Assurances's presence as corner investors has attracted around fifteen other institutional investors such as Crédit Agricole Group Regional Banks (Aquitaine, Touraine-Poitou, Nord-Midi Pyrénées, Ille et Vilaine, Côtes d'Armor), IRCANTEC, PRO BTP and FGTI (French Compensation Fund for Victims of Acts of Terrorism and other Offenses).
