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Infrastructure: Caisse des Dépôts supports large-scale projects in 3 European countries

Caisse des Dépôts invests in Europe, via the Marguerite fund, in infrastructure projects for renewable energy in Sweden and Portugal and in a major telecommunications operator in Italy, to support and speed-up the ecological, energy and digital transition of the continent.

 

Transport
28June2017

Energies renouvelables et logo du fonds Marguerite

These investments are the first to be made in these countries by the Marguerite fund, in which Caisse des Dépôts is a co-investor, to acquire:

  • an onshore wind farm project in the region of Gothenburg,
  • two biomass plants in the north of Portugal,
  • with the F2i Fund, virtually all of the share capital of Infracom (Italy).

 

In Sweden: an onshore wind farm of 46.8 MW

This infrastructure project will spring up shortly and will be operational in the 2nd half of 2018. It was acquired from Element Power and its joint venture Kraftö AB. It involves the design, construction and commissioning of the Grimsås wind farm located 100km from Gothenburg and which has a capacity of 46.8 MW.

 

In Portugal: two biomass plants, each of 15 MW.

Acquired by the Marguerite fund (90%) together with the local developer FPT, these two plants, work on which has begun, should be fully operational in the 1st half of 2019. Located in the north of the country, in Fundão and Viseu, they will each have a power of 15 MW. This is the 1st investment in the biomass sector from the Marguerite fund.

 

In Italy: a fibre optic network and three datacentres

By purchasing 94.12% of Infracom for €57.8mn from Abertis Group, the Marguerite fund and the F2i Fund have equipped themselves with a major platform for merging other operators active on the fragmented BtoB telecommunication services market. The two buyers completed the transaction via a joint investment vehicle 80% owned by the F2i Fund and 20% owned by the Marguerite fund. The latter fund has thus made its 2nd major investment in European digital infrastructures. In 2016, the fund acquired shares (37%), as did Caisse des Dépôts directly (20%), in the company Rosace, with a view to deploying a very high speed fibre optic network in Alsace.

 

"The success of Marguerite, which brings together European public banks and banks and national public financial institutions (NPBIs), shows how suitable this model is for relaunching investments in infrastructures in Europe. As such, NPBIs are vital for the deployment of the Juncker Plan" says Laurent Zylberberg, Chair of the Board of Directors of the Marguerite fund and Director of Institutional, International and European Relations at Caisse des Dépôts.

 

The Marguerite fund, created in 2008, brings together Caisse des Dépôts (France), KfW (Germany), PKO (Poland), Instituto de Crédito Oficial (Spain), Cassa Depositi e Prestiti (Italy) and European Institutions (Commission and EIB). As of 1 January 2017, this fund containing €710mn had invested in 12 projects located in 10 European Union countries. These infrastructure projects of a sum of over €420mn primarily concern renewable energy and transport.
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