Crédit Agricole Assurances launches a fund dedicated to financing the energy transition
Crédit Agricole Assurances, Crédit Agricole CIB and Crédit Agricole Transitions & Energies alongside Crédit Agricole’s Regional Banks, strengthen their commitment to financing transition towards a low-carbon economy with the launch of the Crédit Agricole Transition Infrastructure (“CATI”) debt fund. Managed by RGREEN INVEST, a pioneer in energy transition financing, this Article 9 fund aims to finance French and European companies deploying infrastructure projects that contribute to a less carbon-intensive economy.
As part of its efforts to support local authorities and businesses in the development of energy transition infrastructure, Crédit Agricole Assurances has set up a fund with an investment capacity of €300 million.
Subscribed by Crédit Agricole Assurances’ life insurance subsidiary Predica, the CATI fund will host projects of Crédit Agricole CIB and of the Regional Banks (via Crédit Agricole Transitions & Energies). It will be managed by RGREEN INVEST, a specialist in energy transition financing in Europe that has been supporting European entrepreneurs in their growth since 2010. RGREEN INVEST will select projects originated by Crédit Agricole CIB and Crédit Agricole’s Regional Banks and will directly originate and structure additional transactions.
Classified as Article 9 under SFDR regulations, meeting the highest sustainability-related requirements and transparency standards, this debt fund will primarily focus on financing energy transition infrastructure projects eligible under the European Taxonomy. It will also be able to diversify its investments into other types of low-carbon infrastructure that benefits local communities and territories. The fund will support real economy projects, particularly in the following sectors:
- Photovoltaic solar power,
- Wind power assets,
- Hydroelectricity,
- Biogas, biomethane and bioenergies,
- Battery power storage,
- Electric vehicle charging stations,
- Geothermal energy,
- Waste heat recovery,
- Energy efficiency,
- Diversification: low-carbon infrastructure such as energy-efficient data centres and fibre optic networks (in landlocked areas)
Nicolas Denis, Chief Executive Officer of Crédit Agricole Assurances said: “With the launch of this new fund, which is perfectly in line with the Crédit Agricole Group’s societal project, Crédit Agricole Assurances is reasserting its commitment to the transition to a low-carbon economy. In an increasingly challenging environment that calls for powerful commitments from the various economic players, we are convinced of the usefulness of this new financial vehicle. This project further illustrates the synergies emerging from the Crédit Agricole Group to best serve our customers and local communities.”
Nicolas Rochon, Chairman and founder of RGREEN INVEST added: “We are delighted to establish this partnership, which is a major milestone in our mission to support energy transition players. The Crédit Agricole Group’s strong presence with European SMEs and mid-caps is a major advantage in achieving the investment depth we are looking for. This new fund 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.”
