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According to the Bank’s website, the project consists of a multi-annual investment programme into small-scale photovoltaic (PV) plants (~10 MW average nominal capacity) separated in two portfolios (14 units and 12 units, respectively), with a total installed capacity of 255 MW, at geographically dispersed locations throughout Italy, including Sardinia and Sicily.
The project produces electricity from low-carbon sources (solar PV) in Italy and addresses the market failure of negative climate and environmental externalities, through the reduction of carbon emissions and air pollution. The project supports EU Renewable Energy objectives and supports Italy in meeting its commitments with respect to renewable energy targets (87 GW of RE by 2030) and greenhouse gas emission reductions set out in the Integrated National Energy and Climate Plan (INECP) revised after the publication of the EU Green Deal.
As stated by the EIB, REDEN is an independent producer of photovoltaic renewable energy, focused on the development, construction and operation of photovoltaic power plants in France and beyond. Founded in 2008 in the French Lot-et-Garonne region, REDEN owns and operates nearly 800 MW of installed capacity and employs more than 150 people across eight countries. Its values of benevolence, ethics, commitment and professionalism are at the heart of the group’s performance. Since July 2022, Macquarie Asset Management, in a consortium with British Columbia Investment Management Corporation (BCI) and MEAG, has been supporting the group in its new growth phase.
Crédit Agricole CIB is the corporate and investment banking arm of Crédit Agricole Group, the tenth largest banking group worldwide in terms of balance sheet size (The Banker, July 2022). More than 8 900 employees across Europe, the Americas, Asia-Pacific, the Middle East and Africa support the bank’s clients, meeting their financial needs throughout the world. Crédit Agricole CIB offers its large corporate and institutional clients a range of products and services in structured finance, capital markets activities, investment banking, commercial banking and international trade. The bank is a pioneer in the area of climate finance, and is currently a market leader in this segment with a comprehensive offer for all its clients. Crédit Agricole CIB benefits from the group’s financial strength and solid financial ratings (Standard & Poor’s: A+, Moody’s: Aa3, Fitch: A+).
Natixis Corporate and Investment Banking is a leading global financial institution that provides advisory, investment banking, financing, corporate banking and capital markets services to corporations, financial institutions, financial sponsors and sovereign and supranational organisations worldwide. Our teams of experts in 30 countries advise clients on their strategic development, helping them to grow and transform their businesses, and maximise their positive impact. We are committed to supporting the environmental transition by aligning our financing balance sheet with a 1.5°C trajectory by 2050. As part of the Global Financial Services division of Groupe BPCE, the second largest banking group in France through the Banque Populaire and Caisse d’Epargne retail networks, Natixis CIB benefits from the group’s financial strength and solid financial ratings (Standard & Poor’s: A, Moody’s: A1, Fitch: A+, R&I: A+).
| Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
|---|---|---|---|---|---|---|
| - | - | - | - | REDEN DEVELOPMENT ITALY SRL | Client | Energy |
| Crédit Agricole S.A. | Parent Company | Finance | owns | Crédit Agricole Corporate and Investment Bank S.A. | Investor | Finance |
| Groupe Banque Populaire Caisse d'Epargne - BPCE | Parent Company | Finance | owns | Natixis S.A. | Investor | Finance |
No contact information provided at the time of disclosure.
ACCESS TO INFORMATION
You can submit an information request for project information at: https://www.eib.org/en/infocentre/registers/request-form/request-form-default.htm
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