Skip to content

Allen & Overy advises SOFIAC, offering energy efficiency integrated solutions for companies in France, in the €60 million investment from Mirova, ADEME Investissement and Fondaction

Allen & Overy has advised SOFIAC, which provides an innovative investment solution aimed at accelerating the energy transition and decarbonization of French businesses, in the €60 million investment from Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable finance, ADEME Investissement and Fondaction.

Initially conceived in Quebec, Canada, by Econoler and Fondaction, SOFIAC supports industrial and tertiary companies in their energy transition by taking on 100% of the investments required to increase their buildings energy efficiency, with the aim of significantly reducing their energy expenses and achieving greenhouse gas reduction targets outlined in their environmental, social, and governance (ESG) strategy.

This €60 million investment from Mirova, ADEME Investissement and Fondaction aims to replicate the success of SOFIAC in Canada by structuring the company in France and developing an extensive network of contacts to serve a maximum number of projects.

The support model offered by SOFIAC, which provides a turnkey solution for entities looking to accelerate their decarbonization, involves managing all aspects of project development and management in an integrated manner. This includes audit and modeling, selection and monitoring of technical agents responsible for project implementation and equipment commissioning, stakeholders training, and independent performance monitoring. This enables companies to focus on their development while generating additional positive cash flow from the outset of the partnership through energy savings.

The A&O Paris team was composed of partner Alexandre Ancel with the support of counsel Flora Leon-Servier, associate Astrid Achard-Hoffman, partner Mathieu Vignon and partner Antoine Sarailler. Partner Arthur Sauzay, associate Marie Coussi and associate Ahmed Ben Hafsia assisted on public law aspects. Partner Driss Berehi and associate Dorian Le are assisting SOFIAC on its external financing.