Infrastructure - Renewable energy,
by Omnes Capital

Investing in electricity and heat production through renewable energies

Key player in renewable energy across Europe

  • €1.1 bn in assets under management – over 1.5 GW of installed capacity
  • Capenergie, the first fund in France dedicated to renewable energy and energy efficiency created in 2006
  • Focus on renewable energies generating electricity and heat at a competitive cost (onshore wind, solar, hydro, heating networks)
  • European approach (France, Germany, United Kingdom, Scandinavia, Italy)
  • Investment in green energy production assets alongside independent power producers (SMEs)

Flexible strategy combining institutional funds and dedicated mandates

  • Capenergie funds dedicated to decentralised renewable energy production assets in Europe:
    - Capenergie 1 and 2 funds dedicated to investments in green energy production assets and in independent power producers
    - Capenergie 2 Infrastructure, fund dedicated to green energy production assets
  • €300 million discretionary mandate dedicated to large-scale production assets

A still fragmented mature European market

  • 220 GW wind and solar energy capacity connected to the grid at year-end 2014
  • More than 100 independent power producers in western Europe
  • Buoyant greenfield and brownfield markets
  • Predictable regulatory frameworks in Europe
Key figures
11
years’ experience in the market
8
investors (6 nationalities)
€1,100
million
in assets under management or under mandate
> 30
investments completed since 2006
1.5
GW
in production capacity in portfolio (the equivalent of a nuclear reactor)
Business Case
“You are not born an entrepreneur – you become one!"
BARBARO
XAVIER
CEO
of Neoen
Neoen
Project

A pioneer spirit

Less than a year after Neoen was set up, Xavier opened up the company to outside investors. He knew that to have staying power, a firm needs to quickly reach critical mass, build professionalism and take emerging international opportunities.

“We chose partners – Louis Dreyfus (now Impala) and Omnes Capital – who shared our vision and mindset. Like us, they are pioneers, and we are so pleased to share this adventure with them.”

PROFILE
Xavier
BARBARO
CEO
of Neoen
“You are not born an entrepreneur – you become one”, says Xavier Barbaro when asked about the success story that is Neoen, which has grown to become France’s third-largest producer of green energy behind EDF and GDF Suez. Admittedly, when he started out, Xavier did have a few important qualities, not least being a graduate of École Polytechnique and École des Ponts et Chaussées, two prestigious French schools. But there was no hint of his future career as an entrepreneur. He got the bug from Jacques Veyrat, then boss of LDCom. “I was deeply marked by my time at LDCom during the dot-com boom. I saw the beating heart of a business and encountered stories of passion, struggle and survival.”
After a spell in the USA, during which he earned an MBA from Harvard Business School, Xavier Barbaro joined Louis Dreyfus Commodities and led a number of projects in Asia, particularly in the biofuel sector. In 2007, he went back to Jacques Veyrat, who was by then in charge of the Louis Dreyfus Group, and told him that he wanted to work in the energy sector and to take on an entrepreneurial project. With Veyrat’s backing, he got involved in renewable energy with the creation of Neoen. It was a daring undertaking in a sector that then included about 300 firms in France. Xavier put his faith in a pioneering spirit, support from top-tier shareholders and a rigorous approach.
Success came quickly. “We now manage projects that are 600 times larger than the ones we started out with in 2008. The launch of Europe’s biggest solar park shows how far we have come in a few years.” Although he is keeping both feet firmly in France, Xavier is also looking abroad, with numerous projects under development in places as far afield as Australia, Egypt, Mexico and El Salvador. “As the costs of producing solar power tumble, we are taking everyone by surprise. This is just beginning.”
CAREER PATH

Timeline

2001: Started out at LDCom, now Neuf Cegetel
2008: Formation of Neoen, initially as part of Direct Energie. Neoen became fully independent in 2011.
2014: Moved up the next level by launching Europe’s largest photovoltaic park in Cestas near Bordeaux and winning two major tenders in El Salvador and Australia. Also the year when Neoen became the third-largest producer of renewable energy in France.

neoen
Portfolio
13 MW geothermal heating network
Independent power producer
Designs, develops and markets a range of solar trackers
46 MW portfolio of wind farms in France
Specialised in the generation, transmission and distribution of electricity (Italy)
Green energy producer
15 MW portfolio of solar power plants in Belgium
Independent producer of hydropower
Development of collective anaerobic digestion (methanisation) projects running on agricultural and agrifood biomass
newsroom
Press release
21 June 2017
Omnes Capital announces the final closing of its Capenergie 3 fund at €245 million
Omnes Capital announces the final closing of its Capenergie 3 fund at €245 million
Publication
Omnes Capital Newsletter no 32
Press release
17 January 2017
BayWa r.e. sells 12 MW wind farm in France to Omnes Capital
BayWa r.e. sells 12 MW wind farm in France to Omnes Capital
Press release
03 January 2017
ENGIE and Crédit Agricole Assurances strengthen their onshore wind power partnership in France
ENGIE and Crédit Agricole Assurances strengthen their onshore wind power partnership in France
Press release
13 December 2016
Omnes Capital obtains the “Energy and Ecological Transition for the Climate” label for its Capenergie 3 fund
Omnes Capital obtains the “Energy and Ecological Transition for the Climate” label for its Capenergie 3 fund
Publication
Omnes Newsletter no 32: Edirotial by Fabien Prévost, CEO, Omnes
Press release
12 September 2016
Omnes Capital sells its stakes in Valorem to 3i Infrastructure
Omnes Capital sells its stakes in Valorem to 3i Infrastructure
Press release
08 September 2016
BayWa r.e. sells 8.2 MW wind farm in France to Omnes Capital
BayWa r.e. sells 8.2 MW wind farm in France to Omnes Capital