Exor focuses on renewables: allies with Impala to support TagEnergy

Exor focuses on renewables: allies with Impala to support TagEnergy

TURIN. Exor bets on renewables. The holding company of the Agnelli family, led by CEO John Elkann, joins forces with Impala, an investment company controlled by Jacques Veyrat and his family, to foster the development of TagEnergy, a rapidly growing Lisbon-based company in the energy sectors renewables and energy storage. The new joint holding company, TagHolding, will become the single largest shareholder of TagEnergy. The company has a strong portfolio of projects in the planning, construction or operational stages in Australia, the United Kingdom, Portugal and other European countries.

Founded in 2019 by Franck Woitiez and Jacques Veyrat, two entrepreneurs united by the same vision in the energy field, TagEnergy operates along the entire value chain in renewable energies, including the design, financing, implementation and management of wind and solar renewable energy, as well as providing energy storage and grid stabilization solutions. TagEnergy is well positioned - explains Exor - to reach 5GW of renewable power by 2027, under construction or already in operation, in countries that have made a long-term commitment to decarbonise their economies.

«In recent years we have increased our attention on the subject of ESG, in particular on the energy transition - explains John Elkann - essential for achieving a future without CO2 emissions. With the growing electrification of large sectors of the economy, the development of renewable and zero-emission electricity sources is more necessary than ever. Added to this will be the growing need to conserve intermittently generated energy and to stabilize grids that were previously designed for more concentrated and controllable production centres. In joining forces with Jacques Veyrat and the TagEnergy team we choose to support an exceptional team in dynamic geographic areas that present great potential."

In turn, Jacques Veyrat comments: «Like Impala we have supported TagEnergy from the very beginning. The partnership with Exor will allow us to further support TagEnergy's ambition which aims to expand into different countries of the world and finance the promising projects that its team is currently developing".

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