Edison: sells 49% of renewables to Credit Agricole Assurances

Energy: Crédit Agricole Assurances acquires 49% of Edison Renewable capital

Edison And Cre’dit Agricole Assurances announce the signing of the agreement with which Cre’dit Agricole Assurance participates in the wind and photovoltaic development of Edison Renewables becoming a 49% shareholder. The overall valuation of Edison Renewables is over 2 billion euros. Edison maintains full industrial and governance control of the company and will guide its development in renewables in line with the decarbonisation objectives expressed in the Italian pniec is in the European Green Deal. Edison will continue to fully consolidate Edison Renewables, which holds renewable assets for a total capacity of 1.1 GW, of which approximately 1,000 MW from wind power distributed in the areas of the country with the highest winds. With this transaction, Cre’dit Agricole Assurances, in line with the commitments undertaken by the Cre’dit Agricole Group in favor of the climate, becomes Edison Renewables’ long-term financial partner, recognizing the validity of the industrial development project and sharing its commitment to challenges of decarbonisation.

Edison, Nicola Monti: “In the best condition to accelerate investments in renewables in Italy”

Edison strengthens its role as a responsible operator, leader in the country’s energy transition, with an industrial plan that has one of its strategic development cornerstones in the growth of renewable generation, together with energy efficiency, sales and services for end customers as well as ‘gas and green gas activities. “We are proud to announce a long-term partnership with a player who recognizes himself in our industrial project and supports it – he declares Nicola Monti, managing director of Edison -. Thanks to this collaboration, we are in the best position to accelerate investments in renewables in Italy, creating the robust pipeline of projects we are developing and thus contributing to the country’s energy transition “.

Credit Agricole Assurances, Philippe Dumont: “Investment helps strengthen our action in the energy transition”

“We are proud to support the Italian energy transition policy with Edison – he says Philippe Dumont, managing director of Cre’dit Agricole Assurances -. In accordance with the commitments made by the Cre’dit Agricole Group in favor of the climate, this new investment in Edison will help Cre’dit Agricole Assurances to strengthen our action in the energy transition. This acquisition will contribute to our goal of further increasing investments in renewables to reach 11 GW of installed capacity by 2025 “. The closing of the transaction, which is not subject to conditions precedent, is expected by the end. of the year.