WIN OVER THE SUPPORT OF GOOD QUALITY PARTNERS – INVESTORS
In October 2015, Total Eren, then EREN Renewable Energy, the subsidiary dedicated to renewable energy of EREN Group completed a capital increase of 200 million Euros with participation of a group of investors composed of Bpifrance, Next World, Salvepar (Tikehau Group) and FFP, in order to support its growth ambitions in the renewable energy sector.
Thanks to increased financial resources, a common long-term vision and a share objective of realizing economically viable projects, EREN Renewable Energy strengthened its ability to deploy funds in order to develop and invest in renewable energy projects over the world, while maintaining the flexibility and agility of a medium-scale developer.
In September 2017 an agreement was signed with Total to enable Eren RE to accelerate its growth in the production of power from renewable sources. Total will acquire an indirect interest of 23% in EREN RE by subscribing to a capital increase for an amount of €237.5 million. On December 01, 2017 Eren RE becomes Total Eren.