Salvepar : participates in a €200m fundraising by EREN Renewable Energy

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PRESS RELEASE

EREN RENEWABLE ENERGY RAISES 200 M€ FROM BPIFRANCE, NEXTWORLD, SALVEPAR AND FFP TO ACCELERATE ITS GROWTH

Paris, October 12th, 2015 - EREN Renewable Energy announces a fundraising round of nearly 200 M€ from a diversified consortium of investors, to support its growth ambitions in the renewable energy sector

EREN Renewable Energy (« EREN RE »), an EREN Groupe company, completed a capital increase of nearly 100 M€ with participation of Bpifrance, Next World, Salvepar (Tikehau group) and FFP, marking the first tranche of a fundraising totaling nearly 200 M€1. EREN RE will be able to call upon the second tranche, for equivalent amounts from the same partners, between 2016 and 2017.

Founded in 2012 by Pâris Mouratoglou and David Corchia, and based in Paris, EREN RE holds a renowned expertise and unique know-how in the sector of renewable energy. Along with local and exclusive partners, the company positions itself in emerging markets with strong potential, in geographical zones presenting significant wind and solar resources and facing growing energy needs.

Within less than three years, EREN RE has accumulated a diversified and solid asset base (wind, solar and hydro) totaling 240 MW of net capacity in operation or under construction, in France, Italy, Greece, Israel and India. Furthermore, EREN RE develops numerous projects in Asia, Africa and Latin America, targeting a net installed capacity of over 2 GW by 2020.

This first external fundraising round with leading investors is meant to allow EREN RE to fund its projects under development, and more particularly to accelerate the expansion of its international asset base. This investment will facilitate the emergence of a new independent French leader in the global renewable energy sector, while sustaining the company's entrepreneurial spirit and agility, with EREN RE's founders retaining control following the transaction.

Pâris Mouratoglou, Chairman of EREN RE said: «When we created EREN three years ago, we aimed to launch the first group, with a global footprint, dedicated to natural resource efficiency. By partnering today with such a high-quality financial consortium, we are considerably strengthening the development capacity for our renewable energy activities, while maintaining the flexibility and agility which are the core strength of our model'.

« With one of the most skilled and experienced team, and the best local partners in the renewable energy sector, we have the ambition to make EREN RE a global leader. We are pleased that EREN RE, which today combines a profitable portfolio of operating assets and a significant pipeline of projects

1 The fundraising's first tranche was composed of 50 M€ by Bpifrance, 17,5 M€ by Next World, 16 M€ by Salvepar and 14 M€ by FFP.

under development in regions of high growth, has gathered a leading group of investors, sharing our long-term vision. Our exciting entrepreneurial adventure is going to accelerate further and benefit from the diversity of approaches and skills of our new shareholders', added David Corchia, CEO of EREN RE.

José Gonzalo, Director at Bpifrance Investissement Mid & Large Cap congratulated the closing of this operation and stated: 'We are delighted to support French entrepreneurs in the long-run and in a pivotal phase of their development, in a venture led by a management team with such a prestigious experience. A few weeks' time from the United Nations conference on climate change to be held in Paris (COP21), this investment is aligned with Bpifrance's strategic interest to invest in companies promoting solutions to the energy and environmental transitions and to contribute to the emergence of French renewable energy leaders with ambitious projects and appealing perspectives. This positioning is central to Bpifrance's mandate and, more than ever, represents a public service imperative.'

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Investors :

• Bpifrance Investissement (Mid & Large Cap) : José Gonzalo, Emilie Brunet, Louis Robert, Alexis Bisson, Edwige Kharoubi

• Next World Group : Sébastien Lépinard, Geoffroy de Carbonnières

• Salvepar : Geoffroy Renard, Mathieu Badjeck, Maxime-Henri Lafarge

• FFP : Alain Chagnon, Cindy Daniel, Jean-Baptiste Molmy

  
  

  Advisors :

  On this operation, the company was advised by:

• Société Générale CIB (Financial advisor)

• Compagnie Financière du Lion (Financial advisor)

• White & Case LLP (Legal advisor)

  
  

  On this operation, the group of investors was advised by:

• Crédit Agricole CIB (Financial advisor)

• Linklaters LLP (Legal advisor)

• CBR & Associés (Legal advisor)

• EY (Financial due-diligence)

• DNV-GL (Technical due-diligence)

About EREN RE

EREN RE, member of EREN Groupe, was founded in 2012 by Pâris Mouratoglou and David Corchia, both with significant experience in the renewable energy sector. EREN Groupe is the first group dedicated to natural resource efficiency. The Group promotes and invests in technological innovations in the water, basic materials and energy sectors. EREN RE develops projects in countries where renewable energy provides an economically viable response to growing power demand. Through partnerships established with local developers, EREN RE has accumulated a portfolio of 240 MW (net) of renewable energy assets in operation and under construction, and holds more than 1 GW of assets under development.

For more information:www.eren-groupe.com

Press contacts:

Margot Le Guen (EREN Renewable Energy) Tel. : [phone] [e-mail]

Agnès Catineau (Brunswick) Tel. : [phone] [e-mail]

Guillaume Le Tarnec (Brunswick) Tel. : [phone] [e-mail]

About Bpifrance

Equity investments are operated by Bpifrance Investissement. Bpifrance, a subsidiary of the French State and the Caisse des Dépôts and the entrepreneurs' trusted partner, finances businesses from the seed phase to IPO, through loans, guarantees and equity investments. Bpifrance also provides operational services and strong support for innovation, export, and external growth in parnertship with Business France and Coface. Bpifrance offers businesses a large range of financing opportunities at each key step of their development, including offers adapted to regional specificities. With its 42 regional offices (90% of decisions are made locally) Bpifrance represents a strategic tool for economic competitiveness dedicated to entrepreneurs. Bpifrance acts as a back- up for initiatives driven by the French State and the Regions to tackle 3 goals: contributing to SME's growth, preparing tomorrow's competitiveness and contributing to the development of a positive entrepreneur ecosystem.

With Bpifrance, businesses benefit from a powerful, efficient and close representative, to answer all their needs in terms of financing, innovation and investment.

For more information:www.bpifrance.fr - Follow us: @bpifrance

Press contacts:
Antoine Boulay Tel. : [phone] [e-mail]	Nathalie Police Tel. : [phone] [e-mail]

About Next World Group

Next World, set up in 2008 in San Francisco and Brussels, is an international investment firm leveraging its long-term capital to support the development of new business models around technology, energy transition and consumer goods. Next World invests directly or indirectly, from VC to late growth stages, alongside great managers who share the same passion for innovation. Further strengthened by a portfolio of global and diversified financial assets, this sustainable investment strategy allows Next World's founders to support an ambitious philanthropic program focused on achieving positive social and environmental impact.

For more information:www.nextworldgroup.com

Press contacts:

Geoffroy de Carbonnières (Brussels) Tel. : [phone] [e-mail]

Sébastien Lépinard (San Francisco) Tel. : [phone] [e-mail]

About Salvepar

Salvepar, is an investment holding company listed on the Euronext Paris stock exchange (Compartment B) majority owned by the Tikehau group. Salvepar pursues an active policy of minority investments in listed and non-listed companies, seeking sectorial and geographical diversification (in France and abroad).

For more information:www.salvepar.fr

Press contacts:

Geoffroy Renard (Salvepar) Tel. : [phone] [e-mail]

Grégoire Lucas (Image 7) Tel. : [phone] [e-mail]

Estelle Guillot-Tantay (Image 7) Tel. : [phone] [e-mail]

About FFP

FFP is an investment company listed on Euronext, majority-owned by Etablissements Peugeot Frères and managed by Robert Peugeot. FFP is one of the leading shareholders of Peugeot SA and pursues a minority shareholdings and long-term investment policy. FFP holds participations in listed companies (Zodiac Aerospace, DKSH, SEB or ORPEA), non-listed companies (Sanef or Onet), and private equity funds.

For more information: www.groupe-ffp.fr

Press contacts:

Samuel Rousseau (Havas) Tel. : [phone] [e-mail]

Sébastien Coquard (FFP) Tel. : [phone] [e-mail]