By Ed Frankl

Credit Agricole SA said Friday that its Bancassurance arm bought 50% of a portfolio of renewable projects from TotalEnergies SE with a capacity of 234 megawatts.

The deal values the entire portfolio, comprising 23 solar-power plants and six wind-power plants, at $300 million, Credit Agricole said.

The portfolio will provide enough energy for 200,000 people and prevent the emission of 96,000 metric tons of carbon dioxide a year for 30 years, the bank said.

Write to Ed Frankl at edward.frankl@dowjones.com

(END) Dow Jones Newswires

February 03, 2023 03:17 ET (08:17 GMT)

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