EDF Group has partnered with Amundi to create a joint asset management company.
The new firm will raise funds from institutional and retail investors and aims to manage energy project funds on behalf of third parties. A fundraising of goal €1.5bn has been set by the two companies.
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The partners expect to offer two theme-based specific investment products for the market.
While the first investment product will focus on renewable energy projects, the second will revolve around the energy-saving strategies, which can be used for B-to-B (including electro intensive industries).
Amundi CEO Yves Perrier said: "This partnership with EDF is part of Amundi’s strategy to design innovating investment solutions for its clients, whilst addressing investment challenges faced by corporates."
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EDF Group senior executive vice president for finance Thomas Piquemal said: "After our inaugural Green Bond issuance in November 2013, a reference in the developing green bond market, this partnership with Amundi demonstrates once again EDF’s ability to innovate for the benefit of energy transition financing."
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By GlobalDataThe newly formed company will try to shape investment funds based on high-yield real estate and has plans to extend assistance for non-energy related infrastructures eventually.
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