Press release

24 September 2013 - Solvay Energy Services, a 100% subsidiary of Solvay SA, CDC Climat, a 100% subsidiary of Caisse des Dépôts and Marubeni Corporation (“Marubeni”) have created a joint venture to finance and operate an energy efficiency project at Solvay’s Rare Earth plant in La Rochelle (France).

This joint-venture will finance the revamping of a gas turbine and the replacement of a fuel-oil boiler by a new efficient heat recovery steam generator. Through the operation, it will reduce energy consumption and carbon emissions. Therefore, it allows Solvay’s plant to increase its competitiveness while reducing its environmental impact.

Following this first project, partners intend to further develop this type of innovative structuring and financing on a larger scale to assist industrial sites in reducing their energy consumption and CO2 emissions. Projects will be implemented on Solvay plants and third parties sites within Europe.

Solvay Energy Services, CDC Climat and Marubeni bring complementary expertise to this promising collaboration, in a global objective to be key players of the energy transition. 

Beyond co-financing the project, Solvay Energy Services and Marubeni will bring their know-how in energy assets operations and maintenance. For CDC Climat, this pioneer initiative shows that industrial energy efficiency projects can provide satisfying risk/return to financial investors and significant environmental benefits.

About Solvay Energy Services

Solvay Energy Services is a global business unit of the Solvay Group, specialized in energy and CO₂ management, and in the implementation of new solutions to fight climate change. Located in 14 countries, Solvay Energy Services manages 1.7 billion euros of energy purchases and develops third parties activities in the field of energy and CO₂ efficiency, renewable energy and biofuels. Solvay Energy Services works for all major industrial sectors (automobile, metallurgy, paper, services, food, chemistry, etc.) to reduce energy costs and CO₂ footprint.

About Solvay

As an international chemical group, SOLVAY assists industries in finding and implementing ever more responsible and value-creating solutions. The Group is firmly committed to sustainable development and focused on innovation and operational excellence. Solvay serves diversified markets, generating 90% of its turnover in activities where it is one of the top three worldwide. The group is headquartered in Brussels, employs about 29,000 people in 55 countries and generated 12.4 billion euros in net sales in 2012. Solvay SA SOLB.BE) is listed on NYSE Euronext in Brussels and Paris (Bloomberg: SOLB.BB- Reuters: SOLBt.BR).

About Marubeni Corporation 

Marubeni is an international trading and investment company headquartered in Tokyo. The areas of activities encompasses importing and exporting, related to food materials, food products, textiles, materials, pulp and paper, chemicals, energy, metals and mineral resources and transportation machinery. The Company's activities also extend to power projects and infrastructure, plants and industrial machinery, finance, logistics and information industry, and real estate development and construction, providing EPC and BOT/BOO services to broad industrial customers. Additionally, Marubeni conducts business investment, development and management on a global level. 

About CDC Climat

CDC Climat is a 100%-owned subsidiary of Caisse des Dépôts dedicated to furthering the energy and environmental transition, one of the key priorities of Caisse des Dépôts Group new strategic plan. Benefiting from a broad array of skills ranging from investment to project finance, or advisory & economic research, CDC Climat applies its expertise to the various levers of action necessary for this transition, including: climate and energy policies, emissions trading schemes, low-emission and resilient investment as well as energy efficiency policies, to assist governments, public authorities and private companies.