Poste Immo, La Poste’s real estate subsidiary, Urbasolar and Crédit Agricole Private Equity, sign together a partnership for the construction of photovoltaic power plants on rooftops owned by the group La Poste.

Poste Immo, La Poste’s real estate subsidiary, Urbasolar and Crédit Agricole Private Equity, sign together a partnership for the construction of photovoltaic power plants on rooftops owned by the group La Poste.
Monday, June 20, 2011

This partnership is inscribed in La Poste’s responsible development policy, which is illustrated by promoting renewable energies.

To carry out this ambition, Poste Immo, wholly-owned La Poste subsidiary, moves closer to its real estate expertise along with Urbasolar’s, a reference in the French photovoltaic industry, and that of Crédit Agricole Private Equity, French leader in green energy investments.

Convinced by the competitiveness and increasing performance of photovoltaics, the partners commit to a long-term objective with the ambition of maximizing the development of photovoltaic surfaces on La Poste-owned rooftops.

The signature of the partnership comes along with the creation of Arkasolia. This subsidiary, held at 50% by Poste Immo, is dedicated to the study and development of photovoltaic projects.

Investments, as well as construction and operation of the power plants in a whole will be carried out by a company mainly owned by Capenergie 2, a fund managed by Crédit Agricole Private Equity dedicated to renewable energies. Poste Immo and Urbasolar will also be shareholders of this company.

A portfolio of 30 projects has already been established. The first power plants will be put in service at the beginning of 2012. Moreover new project portfolios are on their way to be completed.

Christian Cléret, Chief Executive Officer of Poste Immo, comments: "We are proud of this partnership; it illustrates our commitment in favour of renewable energies and the environmental performance of our housing grounds."

Arnaud Mine, President of Urbasolar adds: "Poste Immo’s presence by our side demonstrates the potential of the French photovoltaic sector. For Urbasolar, this project establishes a new stage regarding our development with key clients."

Serge Savasta, Head of Renewable Energy activity at Crédit Agricole Private Equity concludes: "Through this partnership, Crédit Agricole Private Equity confirms its interest in the French photovoltaic industry, the development potential of which remains very promising on a mid-term horizon."

About Poste Immo

Wholly-owned subsidiary and global real estate operator of the group La Poste, Poste Immo intervenes both as land and as a service provider with a park of 13.000 buildings and 7.6 million m².

The company operates the Group’s real estate policy according to an ambitious sustainable commitment through its four activities: attending the Jobs of the Group for the development of their projects, preservation and increase of the value of the patrimonial asset, the rationalization of occupied surfaces, and the optimization of the asset management. Its responsible approach also extends to its employer's social role, its culture, its functioning and its relations with all stakeholders. www.poste-immo.fr

About Urbasolar

First mover in the French solar energy industry, Urbasolar is specialized in the conception, realization and operation of professional photovoltaic power plants.

With more than 500,000 m² of roofs on all types of buildings (23 MWp in operation), Urbasolar has developed a recognized understanding of building-integrated photovoltaics. Its technological partnerships with the manufacturers and the leading PV-related companies in the world, as well as its continuous efforts in R&D, allow Urbasolar to use a wide range of technical solutions. This know-how enables the company to integrate all roof renovation work respecting building standards.

Located in Montpellier, Avignon, Saint-Denis de la Réunion and Fort-de-France, Urbasolar develops projects from their engineering (and the acquirement of administrative authorizations), up to their financing, then builds power plants and ensures their operation by staying within the capital of investment companies, alongside building owners and investors. www.urbasolar.com

About Crédit Agricole Private Equity

Crédit Agricole Private Equity is an AMF-accredited asset-management subsidiary of Crédit Agricole, specialising in direct private-equity investment in non-listed companies. A multi-specialist player, Crédit Agricole Private Equity’s team of 100 professionals manages €3.3 billion with specific expertise in LBO & Expansion, Venture Capital, Mezzanine, Co-Investment, Renewable Energy and PPP Infrastructure.

The renewable energy team has already invested in 19 companies or infrastructure projects in the wind, solar, hydroelectric and biomass segments through two mutual funds, Capenergie and Capenergie 2 amounting to €200 million.

Crédit Agricole Private Equity has signed up to the United Nations’ Principles for Responsible Investment (PRI). A committed shareholder, Crédit Agricole Private Equity provides the best possible support for businesses and delivers sustainable performance to its investors.

Press contacts

Groupe La Poste, Stéphanie Fraisse, steph.fraisse@laposte.fr, + 33 1 55 44 22 39

Urbasolar, Sophie Couve, couve.sophie@urbasolar.com, +33 4 67 644 644    

Crédit Agricole Private Equity:
Martine Sessin-Caracci, martine.sessincaracci@ca-privateequity.fr, + 33 1 43 23 90 88
Caroline Babouillard, caroline.babouillard@shan.fr, + 33 1 44 50 58 72