Neoen, a subsidiary of Direct Energie, receives new investment from Crédit Agricole Private Equity and the Louis Dreyfus group

For immediate release – October 12, 2010

Neoen, a subsidiary of the Direct Energie group, operating in renewable energy (solar photovoltaic, on- and offshore wind and biomass) is receiving €20 million of investment from Crédit Agricole Private Equity, via its Capenergie fund, and the Louis Dreyfus group, by investing €10 million each. Direct Energie is retaining a majority stake in Neoen.

Neoen already generates renewable energy through two wind power farms and a solar photovoltaic power plant. Neoen has several hundred MW under project. The new funds will enable the company to accelerate its development.

Neoen is capable of handling all aspects of a project, including site selection, commissioning and operation of facilities. Neoen therefore acts as a single and long term contact point for companies, local authorities and farmers helping them to realise a “sustainable potential”.

Neoen intends to be one of France’s leading producers of renewable energy by 2014, helping to generate enough power to cover the needs of one million French people.

Serge Savasta, Head of Renewable Energy at Crédit Agricole Private Equity, set out the rationale behind investing in Neoen: “We selected Neoen because it has a strong team, its initial work has been of a high standard, and its plans are credible. We are certain that Neoen will very quickly become a major player in the renewable energy sector.”

Xavier Barbaro, CEO of Neoen, added: “Neoen invests in the facilities it develops. We believe that this is the best guarantee we can give to our partners, for whom we add genuine long-term value. We are delighted to share this vision with our new shareholders. Crédit Agricole Private Equity has developed unique expertise in the renewable energy sector in France. We are pleased to welcome Crédit Agricole Private Equity as a new investor alongside Direct Energie and the Louis Dreyfus group. Together, these shareholders will give us crucial assistance in implementing our strategy.”

Crédit Agricole Private Equity
Serge Savasta, Head of Renewable Energy
Sylvia Raussin, Investment Manager
Bérengère Corson, Associate

Direct Energie
Xavier Caïtucoli, Chairman

Neoen
Xavier Barbaro, CEO – xavier.barbaro@neoen.fr
Alexis Broders, Deputy CEO – alexis.broders@neoen.fr

Investor advisors
Legal: Philippe Torre and Mathieu Laval, RMT
Financial: Frédéric Mazel, Fiduciaire Leydet

About Neoen

Neoen develops, finances, builds and operates green power facilities in France, enabling farmers, local authorities and companies to realise their renewable energy potential. Neoen offers a range of technologies capable of providing a rapid, large-scale response to the objectives drawn up by France’s “Grenelle Environnement” think-tank and to France’s energy ambitions, by generating power from various sources: solar photovoltaic, on- and offshore wind, biomass and methane recovery. Neoen
has 25 experienced staff, who are supported by the Direct Energie group and work closely with various external consultancies, which greatly increase the company’s development capacity.
www.neoen.fr

About Direct Energie

Direct Energie, founded in 2003, is a subsidiary of the Louis Dreyfus group and of François 1er Energie.
Direct Energie is France’s leading alternative energy supplier, providing electricity and gas to more than 500,000 consumer and business customers.
www.direct-energie.com

About Crédit Agricole Private Equity

Crédit Agricole Private Equity is an AMF-accredited asset management subsidiary of Crédit Agricole S.A., specialising in direct investment in non-listed companies. A multi-specialist player in the private equity market, it has a team of 50 investors operating in a variety of fields (LBO & Expansion, Venture
Capital, Mezzanine, Co-Investment, Renewable Energy, PPP Infrastructure, etc.), and manages €2.8 billion through various private equity vehicles (FCPRs, SICARs, FCPIs and SCRs). The Capenergie fund, dedicated to renewable energy and energy efficiency, has already invested in 14 companies or infrastructure projects in the wind, solar, hydroelectric and biomass segments.
www-rec.omnescapital.com

About Louis Dreyfus

The Louis Dreyfus group was founded in 1851 and is still owned by the Louis Dreyfus family. Its main activities involve trading, processing and selling agricultural and energy products on a worldwide scale. The group also has real estate development and management activities, as well as managing forest resources. The Louis Dreyfus group has companies in 53 countries. Louis Dreyfus SAS is Direct Energie’s main shareholder, with a 39.4% stake.
www.louisdreyfus.com

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