Alternative savings products with EDF and Agricultural Bank of China
According to the International Energy Agency, $53,000 billion will need to be invested in renewable energies over the next 20 years to limit global warming to 2°C compared with the pre-industrial era. The sums in question are colossal, and the banking sector can help to mobilise private capital to finance project organisers.
The Group has committed to financing over €5 billion in energy transition projects between now and 2020 through two cooperative ventures, uniting its expertise with that of EDF and Agricultural Bank of China.
In 2015, Amundi and EDF joined forces to bring new fund families to market. The funds will target the production of renewable energies (wind, photovoltaic, small hydraulic infrastructure) and energy savings in industries that consume large amounts of electricity, mainly in France. Drawing on the skills of its businesses, EDF is the project manager and operator. The funds, with maturities of 5 to 12 years, are reserved for private or institutional investors interested in alternative savings products.
In 2016, Amundi teamed up with Agricultural Bank of China on the basis of the same model, this time to finance the energy transition elsewhere in the world.