Paris, June 6, 2017 EREN Renewable Energy announced that a second capital increase of almost 100 Million has been carried out among the consortium of investors led by Bpifrance, which had already invested in the company in 2015.
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Founded in 2012 by Pâris Mouratoglou and David Corchia, and Paris-based EREN Renewable Energy (” EREN RE “) has a recognized expertise and a unique know-how in the renewable energy sector. Alongside local partners and exclusive, the company is positioning itself in emerging markets facing increasing energy needs, and with a strong potential for development of wind resources or solar quality.
In October 2015, EREN RE had opened its capital to Bpifrance, Next, World, Tikehau Capital and FFP to support its development ambitions in the renewable energy sector. This second tranche of almost 100 Million, marks an important step in the implementation of the ambitious growth strategy of EREN RE.
Over the past 18 months, EREN RE has put into service more than 80 MW of wind power projects in Greece, 72 Mwp of solar projects, photovoltaic (PV) in India and 10 Mwp in Uganda. At the same time, the company has launched the construction of a 53 MW wind power assets in additional, in Greece as well as solar power plants in Brazil (25 MWc) and Burkina Faso (15 Mwp) ; his project Hercules (100 MW) in Argentina has been selected in the framework of the program Renovar to finalize a purchase agreement in January 2017.
Pâris Mouratoglou, Chairman of EREN RE, says : The success of this fundraiser, which takes place earlier than expected, is crucial for the acceleration of the growth of EREN RE over the long term in the renewable energy sector, and demonstrates two key elements in the development of EREN RE in the course of these last few months : our business model is the right one, and our team is excellent!!! The support and the confidence strengthened our investors who have decided to join us 18 months ago, we are bolstered in our ambitions.
David Corchia, CEO of EREN RE, adds : In just 5 years, we have developed nearly 650 MW are already in operation or under construction. Our pipeline is comprised of more than 1,500 MW of projects. Our international presence is strengthened : in collaboration with our partners, we are now deployed on 5 continents and in a stage of active development in over 30 countries.
José Gonzalo, Executive Director of Mid & Large Cap Bpifrance, welcomes the finalisation of this transaction and said : Our presence on the Board of Directors and our shareholder since October 2015 have reinforced our belief that the current involvement and future leadership team is the first to guarantee the success of the growth of this company. Over the past 18 months, teams of EREN RE have demonstrated their ability to ensure the financing of projects, finalize their development, as well as to ensure their operation in the best possible conditions. Through this new commitment, to the sides of Tikehau, FFP, Next World, we have the ambition to continue to support a French leader in renewable energy, which has a portfolio of geographically diverse, thus allowing the acceleration of funding of its projects and the ability to seize growth opportunities internal or external, creating value in its various markets.
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About EREN Renewable Energy :
Founded in 2012 by Pâris Mouratoglou and David Corchia, and Paris-based EREN Renewable Energy (” EREN RE “) has a recognized expertise and a unique know-how in the renewable energy sector. Alongside local partners and exclusive, the company is positioned in the geographic areas who have the resources, wind or solar quality, on emerging markets with strong potential and facing increasing energy needs. In only 5 years, EREN RE has formed a set of assets, strong, and diverse (wind, solar and hydro power), representing a net capacity of over 500 MW in operation or under construction, distributed over Europe, Asia, Africa and Latin America. EREN RE is also developing a portfolio of more than 1500 MW of renewable projects.
For more information : www.eren-re.com
About Bpifrance :
The equity investments of Bpifrance are operated by Bpifrance Investissement. Bpifrance, subsidiary of the Caisse des Dépôts and the State, trusted partner of entrepreneurs, supports companies, booting up the listing on the stock exchange, in credit, collateral and equity. Bpifrance provides, in addition, support services and increased support for innovation, external growth and export, in partnership with Business France and Coface. Bpifrance offers companies a continuum of financing for each key stage of their development and an offer adapted to regional specificities. Fort of 47 settlements, regional (90% of decisions taken in region), Bpifrance constitutes a tool of economic competitiveness at the service of entrepreneurs. Bpifrance acts in support of public policies pursued by the State and by the Regions to meet three objectives :
to accompany the growth of the business,
prepare the competitiveness of tomorrow and
contribute to the development of an ecosystem conducive to entrepreneurship.
With Bpifrance, companies benefit from a questioner powerful, close and efficient, and to meet all of their financing needs, innovation and investment.
For more information: www.bpifrance.fr Follow us on Twitter: @bpifrance
About Next World :
With offices in San Francisco, London and Paris, the Next World is a private investment company international, building on a long-term capital to participate in the development of businesses and innovative economic models related to technologies, the energy transition and to consumer goods. His investment vehicle in Private Equity Next World Evergreen provides a source of stable capital for entrepreneurs, and builders of the world of tomorrow, as well as a strategic approach and proactive long-term in the area of sustainable consumption and natural (marks and trade specialist), and secondarily in the sector of natural resources and energy. In parallel, the founders of the Next World lead philanthropic initiatives ambitious and catalysatrices of changes in long-term, and large-scale, exploring new ideas, finding the leverage points and working with partners, to achieve a positive environmental and social impact in the most extended possible.
For more information : www.nwef.com
About Tikehau Capital :
Tikehau Capital is a group of asset management and investment, which manages $ 10.3 billion euros of assets and has 1.5 billion of fund equity. The Group invests in various asset classes (private debt, real estate, capital investment, strategies liquid), in particular through Tikehau IM, its subsidiary in asset management, which operates on behalf of institutional and private players. Controlled by its management, alongside institutional partners of first rank, Tikehau Capital has 170 employees across its offices currently located in Paris, London, Brussels, Madrid, Milan, Seoul and Singapore. Tikehau Capital is listed on Euronext Paris, compartment A (ISIN code : FR0013230612 ; ticker symbol : TKO)
For more information : www.tikehaucapital.com
About FFP :
FFP is an investment company listed on Euronext Paris, majority-owned by Etablissements Peugeot Frères and managed by Robert Peugeot. The group FFP is one of the main shareholders of Peugeot SA and pursues a policy of minority investments and long-term. The group FFP holds participations in listed companies (Zodiac Aerospace, SEB, DKSH or ORPEA), non-listed companies (IHS, or EREN Renewable Energy) and in private equity funds. For more information : www.groupe-ffp.fr
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