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Green Giraffe acted as exclusive financial advisor to Innergex Renewable Energy Inc. in the formation of a long-term partnership with Crédit Agricole Assurances for a 30% interest in Innergex France as a platform.
Innergex France has 324MW operational onshore wind as well as a 9MW/9MWh battery storage facility, as well as high growth potential of c.1GW of onshore wind and solar pipeline of different development stages.
Crédit Agricole Assurances, in connection with Crédit Agricole Centre-Est, have taken a 30% minority interest in Innergex France. The acquisition strengthens Crédit Agricole’s position in the energy transition by partnering with a prime player in the French renewable energy market.
This represents a c.EUR 128 million investment to fund future growth for an enterprise value of Innergex France estimated at EUR 710 million including EUR 22 million of cash on hand.