Impala & EXOR to Develop TagEnergy in the Renewable and Energy Storage Sectors

Source: www.gulfoilandgas.com 7/19/2023, Location: Europe

Impala, the investment firm controlled by Jacques Veyrat and his family, and Exor N.V. (“Exor”), the diversified holding company controlled by the Agnelli family, announced that they have joined forces to further develop TagEnergy, a fast-growing company operating in the renewables and energy storage sectors.

TagEnergy was founded in 2019 by Franck Woitiez and Jacques Veyrat, two like-minded entrepreneurs in the energy sector, and is led by a highly-experienced team of owners-operators. Based in Lisbon, Portugal, the company’s operations span the full renewables value chain, including developing, financing, building and operating wind and solar renewable energy projects as well as providing energy storage and grid stabilisation solutions.

TagEnergy has a rich portfolio of projects that range from under-development, in-construction or in-operation in Australia, the UK, Portugal and other European countries. The company is well placed to reach 5GW of renewable assets, under construction or operation, by 2027 in countries that have made a long-term commitment to decarbonise their economies.

To accelerate TagEnergy’s future growth and support its experienced team and strong entrepreneurial culture, Impala and Exor have joined forces in a new joint holding company, TagHolding, which will become TagEnergy’s largest single shareholder.

Jacques Veyrat, Impala’s Chief Executive Officer, commented: “I am very excited to partner with Exor, a firm that shares Impala’s values and a common vision of responsibility towards the energy transition. At Impala, we have been supporting TagEnergy from the very beginning as we firmly believe in their hands-on, entrepreneurial approach to developing and investing directly in the renewable energy markets. Partnering with Exor will enable us to further support TagEnergy’s ambition to expand in multiple regions across the globe and finance the promising projects the TagEnergy team is currently developing.”

John Elkann, Exor’s Chief Executive Officer, commented: “We have increased our focus in ESG in recent years and particularly in the energy transition essential for achieving a decarbonised future. As large sectors of the economy become increasingly electrified, the development of renewable, carbon-free sources of electricity is more necessary than ever. This will be coupled with a growing need to store intermittently-generated energy and stabilise grids that were previously designed around more centralised and controllable production centres. In joining forces with Jacques Veyrat and the TagEnergy team, who have proven their deep knowledge of the sector and their long-term commitment to building a great company, we are choosing to support an outstanding team in dynamic geographies with great potential.”

Franck Woitiez, TagEnergy’s Chief Executive Officer, commented: “We are pleased to welcome Exor into the TagEnergy family. Exor has a proven track record helping companies grow in a responsible and successful way. Its investment, along with Impala’s support, represents a strong vote of confidence in our position and business approach in the renewable energy space. Having both Impala and Exor as partners and shareholders, alongside Mirova and Omnes, will bring us additional financial means to execute and accelerate on our strategic priorities and drive the pace of the energy transition through projects that deliver reliable energy affordably, and at scale.”


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