Exor focuses on renewables and invests in TagEnergy

MILAN – Exor focuses on renewable energy. It will join 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 renewable energy and energy storage sectors. The new joint holding TagHolding, will become the single largest shareholder of TagEnergy.

TagEnergy has a rich portfolio of projects under planning, construction or already in operation in Australia, United Kingdom, Portugal and other European countries.

TagEnergy was founded in 2019 by Franck Woitiez And Jacques Veyrat, two entrepreneurs united by the same vision in the field of energy. The company operates across the entire renewable energy value chain, including the design, financing, construction and operation of wind and solar renewable energy projects, as well as providing energy storage and grid stabilization solutions. TagEnergy is well positioned – explains the Exor note – 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.

“I am very excited to partner with Exor, a company that shares the same values ​​with Impala and a common commitment to the energy transition. As Impala we have supported TagEnergy from the very beginning. Partnering with Exor will allow us to further support the ambition of TagEnergy which aims to expand into different countries of the world and finance the promising projects that its team is currently developing” comments Jacques Veyrat, CEO of Impala.

“In recent years we have increased our focus on ESG, particularly on the energy transition – he explains John ElkannCEO of Exor, owner group of Gedi, publisher of Republic – essential to achieve a CO2-free future. 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 geographies that present great potential.”

“Exor has a proven track record of helping companies grow responsibly and successfully. Its investment, together with Impala’s backing, is a strong act of confidence in our strategy and approach to renewable energy,” he said. Franck Woitiez, CEO of TagEnergy.