Renewables developer TTR Energy has joined forces with five institutional investors and fund managers to create Hexagon Renewable Energy, a company that will own 19 wind projects across France.
Crédit Mutuel Capital Privé, Banque des Territoires, Amundi Energy Transition, Generali Global Infrastructure and Mirova, an affiliate of Natixis Investment Managers, are all investing in the platform.
The windfarm portfolio includes operational assets with a capacity of 112MW and a range of projects that would eventually take total power capacity to more than 770MW.
The investor group was formed by TTR Energy though a competitive process and is led by Crédit Mutuel Capital Privé as lead investor through its infrastructure fund, Siloé Infrastructures.
Bertrand Ghez, deputy general manager of Crédit Mutuel Capital Privé, said: “The investment in Hexagon Energy is the first asset in our new fund, Siloé Infrastructures, and is an important transaction that shows our intention to contribute to energy transition, to minimise carbon footprint and to participate in regional infrastructure development.”
TTR Energy, which has also invested in the project, is the sole director of Hexagon Energy.
Gauthier De Potter, founder and co-CEO of TTR Energy, said: “The creation of Hexagon Energy, in partnership with shareholders strongly dedicated to the climate cause, is consistent with TTR’s philosophy of accelerating the energy transition through independent, flexible, and medium-sized industrial players.
“It deviates from the traditional, centralised approach of large utility companies and focuses on proximity to the territories in which it operates. TTR Energy seeks to comprehensively integrate communities into the decision-making process early on. Its ultimate goal is to maximise production while simultaneously minimising the disruption to the communities and adapting projects to local specificities.”
Emmanuel Legrand, managing director of the department for energy and ecology transition at Banque des Territoires, said: “We are delighted to support the growth of TTR Energy, a developer of renewable energy assets that is a key player in the French market.
“Through this new project, we are investing in the development of several hundred MW of greenfield projects with long-term value for local communities. La Banque des Territoires’ investment is consistent with Caisse des Dépôts’ revival plan, which includes energy transition as one of its main priorities.”
Matthieu Poisson, general manager of Amundi Energy Transition, said: “Amundi Energy Transition is proud to support the development of Hexagon’s portfolio that is mostly greenfield, and therefore to support energy transition in the long term. This investment in wind assets in France complements and provides diversification to Amundi Energy Transition’ portfolio, that has so far invested in the wind sector outside France.”
Alban de La Selle, CIO of Generali Global Infrastructure, said: “We are very happy to support this new producer of Renewable Energy that is destined to a bright future.
“This transaction represents a great opportunity for our investors to be associated with the energy transition movement and to benefit from stable long-term returns. It is also a new transaction for Generali Global Infrastructure that is perfectly in line with its strategy of supporting green energies.”
Raphaël Lance, managing director of energy transition infrastructure funds at Mirova, said: “We are delighted to participate in the creation of this new producer of green electricity through our energy transition fund, Mirova Eurofideme IV.
“Since its launch in 2019, our fund has participated in the financing of around 20 investments representing renewable electricity production capacity of 2.6GW. The technical expertise and know-how that TTR Energy has demonstrated in previous electricity tender offers gives us confidence that TTR will build a high-quality portfolio and will make this partnership a common success.”