Impala, an investment company owned by Jacques Veyrat, has teamed up with Dutch investment company EXOR to expedite the growth of Portuguese renewable energy and energy storage developer TagEnergy.
The two will set up a joint holding company, TagHolding, which will become TagEnergy’s largest shareholder. Financial terms of the transaction were not revealed.
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Other major investors in TagEnergy include infrastructure investor Omnes and French asset manager Mirova.
Founded in 2019 by Franck Woitiez and Jacques Veyrat, TagEnergy operates across the full renewables value chain including the development, financing, building and operation of wind and solar energy projects, along with providing energy storage and grid stabilisation solutions.
The company has a 2GW portfolio of projects, some of which are under development, some in construction and some operational across Australia, the UK, Portugal, Spain and France.
By 2027, it is poised to reach 5GW in renewable assets, assets under construction and operational assets in countries that have committed to long-term decarbonisation.
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By GlobalDataTagEnergy CEO Franck Woitiez stated: “Having both Impala and Exor as partners and shareholders, alongside Mirova and Omnes, will bring us additional financial means to execute and accelerate our strategic priorities and drive the pace of the energy transition through projects that deliver reliable energy affordably, and at scale.”
Impala CEO Jacques Veyrat stated: “At Impala, we have been supporting TagEnergy from the very beginning as we firmly believe in their hands-on, entrepreneurial approach to developing and investing directly in the renewable energy markets.
“Partnering with Exor will enable us to further support TagEnergy’s ambition to expand in multiple regions across the globe and finance the promising projects the TagEnergy team is currently developing.”
In June 2023, TagEnergy secured €570m ($638.94m) in green bonds from investors Copenhagen Infrastructure Partners and GIC.
