Edison: closing of the agreement with Credit Agricole Assurances to accelerate the development of renewables in Italy

Crédit Agricole Assurances supports Edison’s commitment to the energy transition and becomes its financial partner by acquiring 49% of Edison Renewables platform. Crédit Agricole Assurances will contribute to increase Edison Renewables wind and photovoltaic installed capacity to 4 GW by 2030.

Milan, December 14, 2021 – Today Edison and Crédit Agricole Assurances completed the transaction signed on December 3, 2021 whereby Crédit Agricole Assurances becomes Edison’s long-term financial partner by acquiring 49% of Edison Renewables platform and participating in the development of its wind and photovoltaic production.

Edison maintains the company’s business and governance full control and will lead its development in renewable energies in line with the decarbonisation targets fixed by Italian PNIEC and European Green Deal. Edison will continue to fully consolidate Edison Renewables, which has renewables assets for a total capacity of 1.1 GW, of which approximately 1,000 MW of wind farms located in the windiest areas of the country.

Through this transaction, Edison reinforces its role as a responsible player, leader in the Country’s energy transition with a business plan that leverages on renewable energies along with energy efficiency, sales and services for end customers, as well as gas and green gas business.

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