French Firms Establish $1.9B JV for Energy Projects
The French utility The EDF Group and asset management firm Amundi created a joint venture to raise $1.9 billion in funds from institutional and retail investors to finance energy efficiency and renewable energy projects.
EDF and Amundi intend to offer two theme-based investment products. The first will be dedicated to renewable energy such as wind, solar and small hydro. The second will focus on energy saving strategies for business to business.
This partnership seeks to develop a new asset class to draw long-term investments.
The creation of the joint asset management company remains subject to regulatory approval by the relevant authorities.
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