Group news / CACIB finances the largest solar plant in Peru’s history for USD 176 million

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Wednesday 10 April 2024

CACIB finances the largest solar plant in Peru’s history for USD 176 million

CACIB acted as Joint Bookrunner, Joint Lead Arranger, Hedge Coordinator and Hedge Provider for Solarpack’s USD 176-million green financing of the San Martin solar project.

This new plant is expected to generate more than 819 GWh per year – equivalent to the annual electricity consumption of more than 440,000 households – and prevent the emission of more than 564,000 tonnes of CO2 each year. This transaction demonstrates CACIB’s leadership in the renewable energy sector in Latin America.

Indosuez has launched its digital platform Startup Connections for customers interested in the world of entrepreneurship and potential investors in Belgium, Luxembourg, Monaco and soon, Switzerland. They can now enjoy simplified access to an international network of start-ups looking for funding or active support in France. Thanks to this dedicated platform created in 2018, which has proven to be highly successful in France with more than 250 meetings leading to investment of over €11 million, they can browse a catalogue of more than 500 start-ups, filtering their search based on maturity, business segment, environmental impact and numerous other criteria. Startup Connections is notably based on the Crédit Agricole Group’s international network of start-up accelerators, the Village by CA network.

Crédit Agricole Assurances has won the Agefi Private Equity prize for the most engaged LP*. This prize recognises institutional investors whose investment strategies contribute significantly to the dynamism of French companies and territories. In 2023, in accordance with the Societal Project, investments sought to prioritise renewable energies, the transition towards a low-carbon economy, and ageing well. The contribution to the Clean H2 Infra Fund, which invests exclusively in the development of carbon-free hydrogen, the fundraising by Verkor, a French manufacturer of batteries for electric vehicles, and the partnership with Innergex Renewable Energy are testament to this drive.

* Limited Partner.

At the end of March, the special Net Zero Day organised by the Societal Engagement Division brought together 30 Regional Banks and over 15 Group entities and divisions, in the presence of specialists from ADEME and ANHA (French national housing agency) to discuss issues related to energy renovation in the building sector. The other main theme of the day addressed challenges facing the agricultural sector which were debated with experts from industry associations.

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Company Regulation NP 2024-16 “Organisation of the Crédit Agricole S.A. Group’s crisis communication management system” describes the general procedures of crisis communication and the responsibilities and positioning of each communications professional within the Communication business line. It incorporates changes to Regulation NP 2022-26 “Organisation of the Crédit Agricole Group's crisis management system” and sets out the process and rules for managing an ESG controversy (mainly climate-related) within the Crédit Agricole S.A. Group, relating to Crédit Agricole S.A. and/or one of its entities.

Read the regulation

70 years ago…

On 10 April 1954, the National Assembly voted in favour of Value-Added Tax (VAT), a consumption tax which quickly spread throughout France and the rest of the world, with the exception of the United States.
Invented by Finance Inspector Maurice Lauré, it applies to all businesses that buy and sell products and services and proposes a very different mechanism to the indirect consumption tax it replaced. As a result, entrepreneurs no longer declare and pay tax only on their turnover, but also on the amount of their purchases. In return, the tax office reimburses them for taxes charged on these purchases.

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An innovative new approach to support the transition strategy of farmers in Italy

In collaboration with the International Banking Development Division and the Côtes d'Armor Regional Bank, Crédit Agricole Italia has worked on the construction of a new support scheme to guide Italian farmers through the transition, positioning CA Italia as the leader in this field. A dedicated website has also been created, called Percorsi Agri in Italian. Farmers can use the diagnostic tool to estimate their progress in the ecological transition. Based on these results, Agri advisors can then point their customers towards tangible banking and non-banking solutions that meet their needs.