Impala, an investment company owned by Jacques Veyrat, has teamed up with Dutch investment company EXOR to expedite the growth of Portuguese renewable energy and energy storage developer TagEnergy. The two will set up a joint holding company, TagHolding, which will become TagEnergy’s largest shareholder. Financial terms of the transaction were not revealed. Other major investors in TagEnergy include infrastructure investor Omnes and French asset manager Mirova.
Founded in 2019 by Franck Woitiez and Jacques Veyrat, TagEnergy operates across the full renewables value chain including the development, financing, building and operation of wind and solar energy projects, along with providing energy storage and grid stabilisation solutions. The company has a 2 GW portfolio of projects, some of which are under development, some in construction and some operational across Australia, the UK, Portugal, Spain and France. By 2027, it is poised to reach 5 GW in renewable assets, assets under construction and operational assets in countries that have committed to long-term decarbonisation.
In February 2023, Ingka Group acquired a 15 per cent share in the Golden Plains wind farm in Victoria, Australia. Reportedly, the company also planned to engage in green energy projects in South Korea, China, Japan, and India. TagEnergy is constructing the Golden Plains facility, and the first phase of the project, with a 756 MW capacity, completed financial close. The first phase of the project, which will cost $1.4 billion, is planned to start operating in the first quarter of 2025.