French group La Banque Postale – together with its asset management arm, La Banque Postale AM, and subsidiary CNP Assurances – is backing the energy transition with the creation of a €1 billion Impact Infrastructure Debt Fund.
The vehicle aims to offer a “comprehensive and differentiated financing solution to projects and players involved in the energy transition”, according to the announcement.
The Article 8 fund will be deployed over a three-year period and will be managed by LBP AM, which has three other infrastructure debt funds to its name. Sectors for consideration include the usual suspects such as renewable energy, the circular economy, clean transport, energy efficiency and energy storage projects, as well as the more atypical green hydrogen.
The announcement states that “this fund positions La Banque Postale Group as a major and innovative player in this market, supporting French and European initiatives”.