Paris — French insurer Crédit Agricole SA on Friday announced the planned purchase of 29 wind and solar power plants from TotalEnergies for around $300 million.
The plants make up 50% of a portfolio with renewable energy projects with a total capacity of 234 MW.
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.
A total of 25 plants with 180 MW capacity are already in operation, whereas the remaining four others with 54 MW capacity will be commissioned in the first half of this year, it said.
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."
The plants are capable of providing enough energy for 200,000 people and preventing the emission of some 96,000 tons of carbon dioxide a year for 30 years.
©2023 dpa GmbH. Distributed by Tribune Content Agency, LLC.
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