July 3 (Renewables Now) - Amundi Energy Transition (AET), a 60/40 joint venture between French asset manager Amundi SA (EPA:AMUN) and Electricite de France SA (EPA:EDF), has raised more than EUR 500 million (USD 583m) in equity capital after only one year of marketing.
The announcement was made today by Amundi and the European Investment Bank, which is a corner investor with a EUR-50-million commitment. EIB and the other leading investor, Credit Agricole Assurances, have helped attract around 15 other institutional investors.
AET is intended to finance energy transition projects in French regions and industries and, including leverage, it will have an investment capacity of more than EUR 2 billion. It is looking to invest more than EUR 600 million by the end of 2018.
AET has so far closed five investments with energy service provider Dalkia, a subsidiary of EDF. These investments have financed more than 150 energy co-generation plants, including two large-capacity biomass plants, for industrial sites and local authorities, with a combined capacity of 350 MW, according to the announcement. These plants represent more than EUR 400 million in investments, including leverage.
(EUR 1 = USD 1.166)