24 September 2013
Solvay Energy Services, a 100% subsidiary of Solvay SA, CDC Climat, a 100% subsidiary of Caisse des Dépôts and Marubeni Corporation (“Marubeni”) have created a joint venture to finance and operate an energy efficiency project at Solvay’s Rare Earth plant in La Rochelle (France).
This joint-venture will finance the revamping of a gas turbine and the replacement of a fuel-oil boiler by a new efficient heat recovery steam generator. Through the operation, it will reduce energy consumption and carbon emissions. Therefore, it allows Solvay’s plant to increase its competitiveness while reducing its environmental impact. Following this first project, partners intend to further develop this type of innovative structuring and financing on a larger scale to assist industrial sites in reducing their energy consumption and CO2 emissions. Projects will be implemented on Solvay plants and third parties sites within Europe.
Solvay Energy Services, CDC Climat and Marubeni bring complementary expertise to this promising collaboration, in a global objective to be key players of the energy transition. Beyond co-financing the project, Solvay Energy Services and Marubeni will bring their know-how in energy assets operations and maintenance. For CDC Climat, this pioneer initiative shows that industrial energy efficiency projects can provide satisfying risk/return to financial investors and significant environmental benefits.