Banque des Territoires Acquires 50% Stake in Total’s Wind and Solar Portfolio to Boost Renewable Energy Efforts
This morning, Banque des Territoires and Total finalized an agreement where Banque will obtain a 50% equity stake in Total Quadran’s portfolio of wind and solar assets. The portfolio consists of 11 wind farms and 35 solar power installations, collectively producing 143 MW of energy.
Philippe Sauquet, President of Gas, Renewables, and Power at Total, announced that the deal provides a substantial influx of capital that Total can leverage to grow its operations, while offering Banque a significant return on investment.
“The involvement of a new partner in our operational projects follows the refinancing executed earlier this year and aligns with our renewable energy development strategy, targeting over a 10% return on equity,” Sauquet remarked.
Total Quadran administers over 300 renewable energy facilities across France, generating upwards of 850 MW. The company’s green portfolio helps prevent the emission of more than 550,000 tons of CO2 each year.
Banque des Territoires: Advancing Renewable Energy
Emmanuel Legrand, Director of the Department of Energy and Ecological Transition at Banque, views this acquisition as another critical milestone in the institution’s commitment to fostering renewable energy growth.
According to Legrand, this collaboration is expected to foster “more sustainable and environmentally conscious communities.”
“This acquisition perfectly aligns with our goals: supporting the deployment of new renewable projects within France,” he stated.
A Dynamic Year for Banque
Alongside acquiring a 50% share in Total’s wind and solar properties, Banque announced earlier this month the completion of a town hall in Viens, constructed from natural materials such as mud, bricks, and straw.
Other noteworthy initiatives progressing this year include exploring hydrogen-powered trains, rolling out fiber-optic internet in rural areas of France, and establishing a platform to facilitate communication between citizens and their local mayors concerning environmental and health matters.