PARIS (dpa-AFX) - Crédit Agricole Assurances SA (CRARF.PK, CDA.L, ACA.PA), a French insurer, said on Friday that it is acquiring 50 percent of a portfolio of renewable projects with 234 MW total capacity, from TotalEnergies SE (TTE), for around $300 million.
The proposed acquisition includes 23 solar power plants with a total capacity of 168 MW, and six wind power plants with a total capacity of 67 MW.
Out of which, 25 plants with 180MW capacity are already in operation, whereas remaining four others with 54 MW capacity will be commissioned in the first half of this year.
TotalEnergies will continue to focus on the asset management, operation, and maintenance of the 29 power plants.
Florence Barjou, Head of Investments at Crédit Agricole, said:'...In line with the Crédit Agricole Group's climate commitments, this transaction will significantly increase our investments in renewable energies and help us reach an installed capacity of 14 GW by 2025.'
These plants are capable to power 200,000 people and to prevent the emission of some 96,000 tons of carbon dioxide a year for thirty years.
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