Innergex, independent renewable power producer, has signed a long-term partnership agreement with Crédit Agricole Assurances regarding Innergex’s assets and development portfolio in France.
Michel Letellier, President and Chief Executive Officer of Innergex, said: “This long-term partnership agreement is a show of confidence by a well-reputed and financially sound French partner like Crédit Agricole Assurances in the quality of our existing assets, our development activities and strategy in France, and the quality and expertise of our development team. As the new renewable energy bill adopted by the French Parliament promises to accelerate renewable energy development, this long-term partnership provides Innergex with additional financial flexibilit y to continue and accelerate our greenfield development activities of wind and solar projects in the years ahead.’’
Philippe Dumont, CEO of Crédit Agricole Assurances, said: “We’re proud to announce this new partnership in favour of the energy transition. This investment in Innergex France, a high-potential French renewable platform and a subsidiary of a leading pure play renewable group with a proven track record, is fully in line with Crédit Agricole Group’s climate commitments. This operation will also contribute to Crédit Agricole Assurances’ objectives to increase its investments in renewable energies and reach a 14 GW installed capacity by 2025.”
Fully in keeping with the Crédit Agricole Group’s climate action commitments, we are pursuing our efforts for a low-carbon economy at Crédit Agricole Assurances by investing in the energy transition.
Climate, inclusion and agricultural and agri-food transitions are the three priorities of the Crédit Agricole Group's Social Plan. Crédit Agricole Assurances is part of this process. We have been committed for many years to being a responsible insurer, investor and company. As such, we are stepping up our efforts to protect our customers with committed and responsible offerings, to integrate ESG criteria into our investment decisions while taking into account the social and environmental impacts of our business.
Crédit Agricole Assurances, fully in line with Crédit Agricole Group's commitments in favour of the climate, has become a significant investor in Hy24’s Clean Hydrogen Infrastructure Fund, which is to date the world’s largest fund dedicated to clean hydrogen infrastructure projects, aiming to achieve €1.5bn total capital raised.
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