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In line with its business model for the development of its renewables business, Total, through Total Quadran - its 100% renewable electricity production subsidiary in France, farms down respectively to Banque des Territoires and Crédit Agricole Assurances half of its equity in two portfolios of renewable projects.
Crédit Agricole Assurances acquires a 50% stake in a portfolio consisting of nine wind farms (103 MW) and 44 solar power plants (182 MW) for a total capacity of 285 MW (100%).
Banque des Territoires takes a 50% stake in a portfolio consisting of eight solar farms located in New Caledonia with a total capacity of 53 MW (100%).
These farm-down transactions value these portfolios (close to cumulative 340 MW) at an enterprise value of around US$600 million for 100%. They derisk the Group portfolio, accelerate cash flow recognition and increase the return on equity.
10:01 AM, 23rd February 2021 Total, through Total Quadran, its subsidiary in France, farms down respectively to Banque des Territoires and Credit Agricole Assurances half of its equity in two portfolios of renewable projects. Shown here is Total s wind farm. (Representative Image/File Photo)
PARIS, FRANCE: In line with its business model for the development of its renewables business, Total, through Total Quadran - its 100 percent renewable electricity production subsidiary in France, farms down respectively to Banque des Territoires and Credit Agricole Assurances half of its equity in two portfolios of renewable projects.
- Credit Agricole Assurances acquires a 50 percent stake in a portfolio consisting of 9 wind farms (103 MW) and 44 solar power plants (182 MW) for a total capacity of 285 MW (100 percent).
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