· EBRD invests €23 million in 2.8 per cent stake in Voltalia
· Long-term investment facilitates expansion in EBRD countries of key renewable energy producer
· Bank is a leading provider of climate finance in 38 emerging economies
The EBRD has invested €23 million in a 2.8 per cent stake in the French renewable energy producer Voltalia in a move to help the firm expand its operations to countries where the Bank invests. The investment is part of a larger capital increase to finance the company’s investment programme for the period 2020-2023.
Voltalia produces electricity from renewable energy sources such as wind, solar, hydro and biomass and is involved in storage. It is planning to more than double its installed capacity to over 1GW by 2020 and intends to add another 1.6GW of renewable assets in operation or under construction by 2023. Central to this plan is the diversification of its region of activity beyond its current focus on Brazil and France. This includes ambitious plans to invest in renewable projects in countries where the EBRD is active such as Morocco, Tunisia, Egypt and Greece.
As a shareholder, the Bank brings a wealth of experience in financing renewable energy projects and in-depth knowledge of the business environment and regulatory frameworks in the countries where it invests.
The EBRD is a leading climate finance provider in its regions. It invests and mobilises financing and technical support from the private sector, donors and multilateral development institutions to help 38 emerging market economies become greener and more efficient