Banque des Territoires Takes a 50% Stake in Total’s French Renewable Portfolio

Total and Banque des Territoires have signed an agreement for the latter to take a 50% stake in Total Quadran’s solar and wind energy assets in France

Total, through Total Quadran – its renewable electricity production subsidiary in France, and Banque des Territoires have signed an agreement upon which Banque des Territoires 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 percent) in this transaction.

The entry of the firm 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.

Created in 2018, Banque des Territoires 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

“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 percent return on equity”, said Philippe Sauquet, President Gas, Renewables and Power at Total.

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.

“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,” said Emmanuel Legrand, Director of the Department of Energy and Ecological Transition at Banque des Territoires.