Rgreen Invest to manage energy transition fund for Crédit Agricole Assurances
Rgreen Invest has been appointed to manage a new energy transition fund for Crédit Agricole Assurances.
The Crédit Agricole Transition Infrastructure Debt Fund (CATI) will support French and European companies deploying infrastructure projects that contribute to a less carbon-intensive economy.
Backed by Crédit Agricole Assurances, Crédit Agricole CIB and Crédit Agricole Transitions & Energies, it has a €300m (£253.76m) investment capacity.
Rgreen Invest will select projects already originated by Crédit Agricole, and will directly originate and structure additional financing.
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“We are delighted to form this partnership, which represents a major milestone in our mission to support energy transition companies,” said Nicolas Rochon, founder and chief executive of Rgreen Invest.
“Crédit Agricole Group’s strong presence among European SMEs and ETIs is a key advantage in achieving the investment depth we’re looking for. This new vehicle is an ideal addition to our existing range of financing solutions, adding a long-term senior debt solution to our European short-term funds and our long-term senior debt fund dedicated to Africa.
“We have a clear ambition: to offer every entrepreneur in the industry a financing solution tailored to their needs, regardless of their project’s maturity.”
Rgreen Invest has more than 15 years experience financing the energy transition. It currently has approximately €2.5bn in assets under management, and supports more than 3,000 projects across Europe.
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The CATI fund has been classified as Article 9 under the sustainable financial disclosures regulation, which requires fund managers to meet the highest standards of sustainability requirements and transparency.
The fund will support projects in fields such as photovoltaic solar energy, wind power assets, hydropower, biogas, biomethane and bioenergies, battery power storage, and geothermal energy, among others.
“With the launch of this new fund, and as part of Crédit Agricole Group’s societal project, Crédit Agricole Assurances reinforces its commitment to supporting the low-carbon transition,” said Nicolas Denis, chief executive of Crédit Agricole Assurances.
“Given the increasingly challenging environmental context, calling for strong commitments from all economic actors, we are convinced of this new financial platform’s usefulness. This project further illustrates the synergies emerging from the Crédit Agricole Group to serve our clients and local communities.”
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