Clean energy developer and investor TagEnergy announced today a major capital injection, raising €450 million to drive its international growth.
The capital raise includes two new investors in the company, including sustainability-focused investment manager Mirova and private equity investor Omnes, along with TagEnergy majority shareholder Impala SAS Group. Each of the three investors will invest €150 million.
Marc-Philippe Botte, Partner at Omnes, said:
“Our investment strategy is based on long-term partnerships and sharing common values with management. Trust, duration and close relationships are keys of our investments. We have built a significant relationship with TagEnergy management over recent years and are impressed by its achievements.”
Founded in 2019, TagEnergy develops and invests in clean power stations, with operations spanning the renewables value chain, from development, financing, construction and asset management of wind, solar and storage projects, to commercialisation of its competitive energy. The company has developed a portfolio of more than 2.7GW of storage, solar and wind projects in the UK, Australia, Spain, Portugal and France.
According to TagEnergy CEO Franck Woitiez, the new capital will be used to deliver and grow the company’s pipeline of projects across multiple international markets.
“This significant investment will underpin our rapid growth as we scale our operations to speed the transition to more sustainable, competitive and clean power sources.”
Impala will remain the largest shareholder in TagEnergy following the investments, and will continue to control the company together with TagTeam Holding, the holding company for TagEnergy’s manager-shareholders.
Impala Chairman and Founder, and TagEnergy Chairman, Jacques Veyrat said:
“We share TagEnergy’s core values and principles of boldness, responsibility and flexibility. This capital raising is also a timely decision to support TagEnergy’s growth at a critical time of transition in the renewable energy industry. I look forward to the next stages of our development with confidence in the business and our new investor partners.”