F2i Sgr and Crédit Agricole Assurances sign an agreement for the French group to acquire 30% of EF Solare, Europe’s leading photovoltaic operator

PRESS RELEASE

F2i Sgr and Crédit Agricole Assurances sign an agreement for the French group to acquire 30% of EF Solare, Europe’s leading photovoltaic operator

Milan, 8 January 2021 - Crédit Agricole Assurances, the leading French institutional investor in renewable energy, together with CA Vita, its Italian life insurance subsidiary, announces the acquisition of a 30% stake in the capital of EF Solare from F2i Sgr, Italy’s main infrastructure fund, which will retain ownership of the remaining 70% of the capital through its Third Fund.

With assets under management of more than €300 billion on behalf of its clients, Crédit Agricole Assurances is one of Europe's leading investors and already a partner of F2i Sgr in F2i Aeroporti, a holding company that owns interests in the airports of Malpensa, Linate, Naples, Turin, Bologna and Trieste. This new investment will strengthen Crédit Agricole Assurances and CA Vita's strategy in favour of the energy transition in Europe and their contribution to the Crédit Agricole group’s ambition to be the European leader in responsible investment by 2022.

EF Solare was added to F2i Sgr's portfolio as a joint venture with Enel, with an installed capacity of 160 megawatts. Since then and after its acquisition of Enel’s stake, F2i Sgr has continued to invest to support the company’s growth both in Italy and abroad. With the contribution of the latest acquisitions of the Italian solar energy company RTR and the Spanish operator Renovalia, EF Solare’s installed capacity has reached 955 megawatts for the operational plants and nearly 2 gigawatts for a pipeline of projects under development, positioning it as one of the largest European operators of renewable photovoltaic energy.