RGREEN INVEST, an asset management company specializing in investment and financing of infrastructure projects related to the energy transition, and NW Joules, a pioneer in the development of energy storage solutions, announce that the INFRAGREEN IV Fund now holds a 25% equity stake into NW Joules, for a total amount of 34 million euros.
This investment will fuel NW Joules ambition of installing 250 JBox (total of 310 MW) in France by 2022 and of deploying further this multi-service solution across several other countries in Europe. Such a large portfolio of energy storage units is the first concrete answer to the challenge raised by the integration of more intermittent and distributed sources of energy, such as solar and wind farms, into the energy mix.
This exemplary partnership proves, if need be, that the French industry has the ability to design and deploy at a grid-scale level innovative solutions in the field of renewable energy, at a time when the French Government aims to display leadership in addressing climate change.
« We would like to thank all the partners that have been following us since 2017 and in particular ENEDIS, who manages the French electrical grid, for their support and reactivity during the connection of our JBox to the distribution network. Our partnership with RGREEN INVEST will allow us to accelerate our development in France and Europe” said Jean-Christophe Kerdelhue, Chairman and Founder of NW Joules. “Storage is key to a successful transition toward more renewable energy». “We are very proud to be able to help accelerate the large-scale deployment of such an innovation. NW Joules JBox are an effective and rapidly activable answer to the growing demand for energy storage” commented Nicolas Rochon, Chairman and Founder of RGREEN INVEST. “We have been working alongside developers of innovative solutions for more than 10 years, driven by the urgent need for a change in business models but also by the conviction that there is a strong economic potential in the midst of this change” he added. JBox are fully integrated energy storage units, including lithium-ion batteries, that are directly connected to the public electrical distribution network. This modular solution makes it possible to address energy challenges at local level where installed. JBox, via smart algorithms and control devices, can reliably charge and discharge electricity, responding in a fraction of a second to the needs of the local electrical grid.
All JBox elements can be recycled, including the batteries at the end their commercial life. A combination of renewable energy sources with energy storage is definitely less polluting than any use of fossil fuels to produce energy.
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A capital increase of €34 million, via RGREEN INVEST INFRAGREEN IV Fund RGREEN INVEST acquisition of a 25% stake in NW Joules capital has been carried out via their INFRAGREEN IV Fund, labelled “Greenfin Label France Finance Verte”. This operation demonstrates once again RGREEN INVEST ability to quickly support concrete and innovative projects.
RGREEN INVEST announced on November 3rd the third closing of its INFRAGREEN IV Fund, with its total amount increased to €480 million. To date, over €150 million have been committed and invested to European infrastructure projects, a particularly high amount for a fund created in 2019. The INFRAGREEN IV Fund invests and takes equity and quasi-equity positions in infrastructure projects related to the energy transition. These greenfield and brownfield projects are located and operate mainly in the European Economic Area.