08 Jul 2009   |   News

Neoen raises €20M for renewable energy projects


Funding

Neoen SA, a renewable energy specialist operating in the solar photovoltaic, on- and offshore wind and biomass markets, is to receive a €20 million investment. Half of the money will come from Crédit Agricole Private Equity, via its Capenergie fund, and the remainder from Louis Dreyfus group. Neoen’s parent company, Direct Energie, retains a majority stake in Neoen.

Neoen currently generates renewable energy in two wind farms and a solar photovoltaic power plant, and is planning further projects. The new funds will enable the company to accelerate their development.

Neoen has the capabilities to handle all aspects of an energy project, including site selection, commissioning and operation of facilities. The company acts as a single and long-term contact point for companies, local authorities and farmers, helping them to develop sustainable energy plants. Neoen intends to be one of France’s leading producers of renewable energy by 2014, aiming to generate enough power to meet the needs of one million people.


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