Crédit Agricole: partnership with Edison Renewables

(CercleFinance.com) - Crédit Agricole announced on Friday evening that its insurance arm has acquired a 49% stake in Edison Renewables, in a deal that values the Italian renewable energy company at over two billion euros.


Under the terms of the agreement, which will make Crédit Agricole Assurances the "financial partner" of the platform, Edison - EDF's Italian subsidiary - will continue to consolidate Edison Renewables.

The entity currently has renewable assets with a total installed capacity of 1.1 GW, including around 1,000 MW of wind farms located in the country's windiest areas.

The partnership with Crédit Agricole should enable it to increase its installed capacity in wind and photovoltaic power to 4 GW by 2030.

The deal is expected to close by the end of the year.


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