TEESS closes a US$80M non-recourse financing with BNP Paribas, Société Générale, Natixis and Crédit Agricole for a 170 MW solar portfolio in China
Industry milestone with the first green loan in China for an energy company obtained by TEESS, a joint venture between TotalEnergies and Envision
TEESS was established in 2019 by TotalEnergies and Envision, aiming to provide companies renewable energy turnkey solutions that significantly reduce the overall energy bill and carbon footprint to fulfill their decarbonation goals through long-term power purchase agreements. With the ambition to become one of China’s largest service providers of the distributed solar sector, TEESS has currently 140 MW in operation, and targets a portfolio of over 500 MW of projects in operation in the next two years. To lead innovation in the DG solar sector in China, TEESS also invests in digitization, as well as in pilot projects on solar and behind-the-meter energy storage solutions.
TotalEnergies is a broad energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, clean, reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
Envision is a leading energy technology company. It currently owns China's 3rd largest battery company – Envision AESC, the 2nd largest smart wind turbine company – Envision Energy, and the world's largest Artificial Intelligence and Internet of Things (AIoT) operating system - EnOS™. In 2019, Envision Group was ranked in the Top 10 of the world's '50 Smartest Companies' by the MIT Technology Review. Headquartered in Shanghai, Envision has regional offices across Asia, Europe, North and South America and has established global R&D and engineering centers in Singapore, Denmark, Germany, the United States and Japan.
BNP Paribas is a leading provider of banking and financial services. It is present in 68 countries and markets with over 190,000 employees. The capacity to serve a diversified client base is at the heart of BNP Paribas’ business model. In a changing world, BNP Paribas acts as a responsible bank and provides comprehensive solutions to its clients. The Group holds key positions in its two core activities: Retail Banking & Services, comprising Domestic markets and International Financial Services; and Corporate & Institutional Banking.
Société Générale is one of the leading European financial services groups. Based on a diversified and integrated banking model, the Group combines financial strength and proven expertise in innovation with a strategy of sustainable growth. Active for more than 150 years, Société Générale has over 133,000 members of staff in 61 countries and supports on a daily basis 30 million individual clients, businesses and institutional investors by offering a wide range of advisory services and tailored financial solutions. Société Générale is included in the principal socially responsible investment indices: DJSI (World and Europe), FTSE4Good (Global and Europe), Euronext Vigeo (World, Europe and Eurozone), four of the STOXX ESG Leaders indices, and the MSCI Low Carbon Leaders Index.
Crédit Agricole CIB is the corporate and investment banking arm of Crédit Agricole Group, the 12th largest banking group worldwide in terms of tier 1 capital (The Banker, July 2021). Nearly 8,400 employees across Europe, the Americas, Asia-Pacific, the Middle East and Africa support the Bank's clients, meeting their financial needs throughout the world. Crédit Agricole CIB offers its large corporate and institutional clients a range of products and services in capital markets activities, investment banking, structured finance, commercial banking and international trade. The Bank is a pioneer in the area of climate finance, and is currently a market leader in this segment with a complete offer for all its clients.
Communications, Asia Pacific
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