RDIF, Bpifrance and Schneider Electric to jointly invest in energy-efficiency project

Press release, 07.06.2019

Saint-Petersburg, June 7, 2019 - 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 m 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.

Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), said:
“Russian market for energy-efficiency services provides favorable conditions for RDIF and partners to invest. Energy-efficient products and technologies are widely needed, so I’m sure we will be able to significantly contribute to the development of this segment and lay a solid foundation for more joint projects. ”

Nicolas Dufourcq, CEO of Bpifrance, said :
“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.”

Emmanuel Babeau, Deputy CEO and CFO of Schneider Electric, commented:
“The untapped energy efficiency potential in key sectors of the economy starts from 30%. Our experience in the implementation of projects in the field of energy saving allows us to guarantee the achievement of results within the framework of an energy performance contract. Cooperation with RDIF and Bpifrance will make it easier for Russian companies to access financing for such projects, that increase product competitiveness on global markets”.

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Russian Direct Investment Fund (RDIF) is Russia's sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy. RDIF’s management company is based in Moscow. Currently, RDIF has experience of the successful joint implementation of more than 70 projects with foreign partners totaling more than RUB1.5tn and covering 95% of the regions of the Russian Federation. RDIF portfolio companies employ more than 800,000 people, and generate revenues which equate to more than 6% of Russia’s GDP. RDIF established joint strategic partnerships with leading international co-investors from more than 15 countries that total more than $40bn. Further information can be found at www.rdif.ru

Bpifrance is the French sovereign fund and national investment bank: it finances businesses – at every stage of their development – through loans, guarantees, equity investments and export insurances. Bpifrance also provides extra-financial services, such as training, consultancy to help entrepreneurs meet their challenges. Further information can be found at: www.bpifrance.fr

Schneider Electric is leading the Digital Transformation of Energy Management and Automation in Homes, Buildings, Data Centers, Infrastructure and Industries. With global presence in over 100 countries, Schneider is the undisputable leader in Power Management – Medium Voltage, Low Voltage and Secure Power, and in Automation Systems. We provide integrated efficiency solutions, combining energy, automation and software. In our global Ecosystem, we collaborate with the largest Partner, Integrator and Developer Community on our Open Platform to deliver real-time control and operational efficiency.We believe that great people and partners make Schneider a great company and that our commitment to Innovation, Diversity and Sustainability ensures that Life Is On everywhere, for everyone and at every moment. Further information can be found at: www.schneider-electric.com

For additional information contact:
Arseniy Palagin
Russian Direct Investment Fund
Press Secretary
Tel: +7 495 644 34 14, ext. 2395
Mobile: +7 916 110 31 41
E-mail: arseniy.palagin@rdif.ru

Andrew Leach / Maria Shiryaevskaya
Hudson Sandler
Tel: +44 (0) 20 7796 4133

Bpifrance
Nathalie Police
Tel: +33 (1)41 79 95 26
E-mail: Nathalie.police@bpifrance.fr

Schneider Electric
Véronique Roquet Montégon
Tel : +33 (1)41 29 70 76
E-mail: veronique.roquet-montegon@se.com