The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, Bpifrance, France’s sovereign wealth fund, and Schneider Electric, the leader in digital transformation of energy management and automation have agreed on the main terms of a joint investment in energy-efficiency segment. The agreement was signed during the St. Petersburg International Economic Forum.
The parties consider up to €40 mio investment in a joint venture (JV) that will be supplying energy-efficiency solutions to Russian companies.
The project’s business model does not require any investment or additional costs from potential clients. The pay-back of the joint venture investment will be achieved exclusively out of the additional profit generated by cost savings from the energy-efficiency technologies implementation.K
“We are proud to support Schneider Electric, one of the most successful French company in the area of energy management with a strong track record worldwide. Energy-efficiency market potential is significant in Russia and it will allow our partnership to realize successful investments, leveraging on Schneider’s 40-year experience in Russia. Moreover, the investment would be made in the context of the strategic partnership developed between RDIF and Bpifrance through which we invest both in Russia and in France and which has reached a new dimension over the last few months,” Nicolas Dufourcq, CEO of Bpifrance, said.E