Energy transition and renewable infrastructure assets witness a high demand in terms of financing, with 150 billion euro announced in President Macron’s agenda for 2040.
What types of innovative financial products can be structured to cope with this historical need?
A new player born from an innovative and ambitious partnership
in assets under management1
highly skilled industry experts
Created in 2016, Amundi Transition Energétique (ATE) is an asset manager that is jointly owned by Amundi and EDF and specialises in financing the energy transition.
ATE’s unlisted offer complements Amundi’s range of green listed assets, such as low carbon indices.
This partnership allows for an innovative business model: its gives ATE preferential access to EDF’s pipeline of current and future projects, provides for EDF’s management of industrial risks and ensures regulated costs for increased cash flow visibility.
Our long term investments with a 20 to 25 year buy & hold strategy aim for return (with regular distributions) and target tangibles assets that contribute to the production of renewable energies (wind, solar,..) and to power efficiency (heating networks, cogeneration,…)
Addressing this market in a direct manner requires significant means in order to source the right projects, in a sector where small assets abound. Moreover, some of them, such as heating networks, demand strong technical skills.
We are aiming to raise Eur400m for ATE’s first institutional funds. They are designed for both French and international tier one and tier two clients that are willing to optimize their illiquidity premium in exchange for superior returns. These funds will invest in tangible assets dedicated to the production of renewable energies and to power efficiency. We aim for long term investments (25 years), with a strong focus on return and yearly distributions throughout the holding of assets in order to achieve attractive IRR.
ATE recently acquired a controlling interest in a Dalkia2-owned portfolio of gas-powered cogeneration facilities. This more than Eur150m transaction represents over 330MW of electric power, through 132 facilities that produce electricity and heat for industrial and public clients.
Shareholding and operational co-investment partnerships between a major finance player and a recognised energy champion pave the way for the development of future ATE funds in other areas of the energy sector.
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1. All data are as of June 30, 2018.
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