Crédit Agricole Assurances acquires 50% of renewable projects portfolio from TotalEnergies

Written by Adam Cadle

03/02/2023

Crédit Agricole Assurances has acquired 50% of a renewable projects portfolio with a total capacity of 234MW from TotalEnergies.

Of the total capacity, 23 of the renewable projects are solar power plants with a total capacity of 168MW and six are wind power plants with a total capacity of 67MW.

Of these 29 power plants in the portfolio, 25 are already in operation (180MW) and four others (54MW) will be commissioned in the first half of 2023. The energy produced by these plants will correspond to the electricity consumption of 200,000 inhabitants and will prevent the emission of around 96,000 tonnes of CO2 per year for 30 years. Asset management, operation and maintenance of these 29 power plants will continue to be handled by TotalEnergies teams.

“This operation is part of our strategy as a long-term institutional investor in the acceleration of renewable energies, in favour of the energy transition and a low-carbon economy. In line with the Crédit Agricole Group's climate commitments, this operation allows us to increase our investments in renewable energies and contribute to reaching an installed capacity of 14GW by 2025 ", indicated Florence Barjou, investment director of Crédit Agricole Assurances.

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