This morning, Banque des Territoires and Total struck a deal through with Banque will acquire a 50% equity share in Total Quadran’s wind and solar portfolio.
The assets include 11 wind farms and 35 solar power plants that, combined, generate 143 MW.
Philippe Sauquet, Total’s president of Gas, Renewables and Power, said in a statement this morning the deal brings an influx of capital that Total can use to expand their business and provide Banque a handsome return.
“The entry of a new partner into our projects in operation follows the refinancing performed earlier this year and is in line with our renewables development business model, aiming to achieve over 10% return on equity,” Sauquet said.
The company says its renewable portfolio curbs the production of more than 550,000 tons of CO2 emissions per year.
Banque des Territories: We’re furthering renewable power
Emmanuel Legrand, director of the Department of Energy and Ecological Transition at Banque, said in a statement he sees this acquisition as another step in the financier’s journey toward the growth of renewable energy.
The partnership should produce “more sustainable and environmentally friendly communities,” Legrand said.
“This acquisition fully supports our ambition: helping to roll out new renewable energy projects in France,” he said.
Busy year for Banque
In addition to its acquisition of 50% of Total’s wind and solar assets, Banque announced earlier this month the completion of a town hall in Viens made from mud, bricks and straw.
Other projects making progress this year include exploring the use of hydrogen-powered trains, bringing fiber internet to areas in rural France and a platform through which citizens and their mayors can have a dialogue about environmental and health issues. comment↓