Banque des Territoires and REDEN to form REDEN Territoires in a £33m deal.

Banque des Territoires, a bank supporting local authorities, communities and companies in the realization of public interest projects, and REDEN, an independent producer of photovoltaic renewable energy, agreed to form REDEN Territoires, an investment platform aiming to finance rooftop and ground-mounted solar panel projects in France, in a £33m deal. "I am convinced of the need to establish synergies between all local players in order to fully meet the energy challenges of today and tomorrow. The Banque des Territoires is an ideal partner in this approach, helping us to move forward even more effectively towards renewable electricity production, which is essential for us and for future generations,” Frank Demaille, REDEN Chairman and CEO.