Our investors
NeuConnect is being developed by an experienced global consortium that includes Meridiam (France), Allianz Capital Partners on behalf of Allianz Group (Germany), Kansai Electric Power (Japan) and TEPCO Power Grid (Japan), with the project backed by some of the world’s largest banks and financial institutions.
Lead-investor Meridiam is founded on an ethos of taking a long-term and sustainable approach to all its projects, meaning NeuConnect will further benefit from Meridiam’s commitment to invest in, develop and manage the asset over 25 years and beyond. Additionally, NeuConnect can rely on Allianz Capital Partners as one of its main investors to contribute its 25 years of investment experience and long-standing infrastructure expertise and know-how to drive this landmark project.
The key partners bring a proven track record in delivering large-scale energy infrastructure, creating a team with significant experience and expertise in interconnector projects. In addition, the key partners’ investment approach is aligned to UN Sustainable Development Goals (SDGs), helping to ensure that NeuConnect is being delivered to the highest sustainability standards.
Meridiam was founded in 2005 by Thierry Déau, with the belief that the alignment of interests between the public and private sector can provide critical solutions to the collective needs of communities. Meridiam is an independent investment Benefit Corporation and an asset manager. The firm specializes in the development, financing, and long-term management of sustainable public infrastructure in three core sectors: sustainable mobility, critical public services and innovative low carbon solutions.
With offices in Addis Ababa, Amman, Dakar, Istanbul, Johannesburg, Libreville, Luxembourg, Paris, Vienna and Washington, Meridiam manages over US$22 billion and more than 125 projects to date. Meridiam is certified ISO 9001: 2015, Advanced Sustainability Rating by VigeoEiris (Moody’s), ISO 37001 Anti-Corruption certification by AFNOR and applies a unique methodology in relation to ESG and impact based on United Nations’ Sustainable Development Goals (SDGs).
The Allianz Group is one of the world’s leading insurers and asset managers with around 125 million* private and corporate customers in nearly 70 countries. Allianz customers benefit from a broad range of personal and corporate insurance services, ranging from property, life and health insurance to assistance services to credit insurance and global business insurance. Allianz is one of the world’s largest investors, managing around 741 billion euros** on behalf of its insurance customers. Furthermore, our asset managers PIMCO and Allianz Global Investors manage about 1.8 trillion euros** of third-party assets.
Thanks to our systematic integration of ecological and social criteria in our business processes and investment decisions, we are among the leaders in the insurance industry in the Dow Jones Sustainability Index. In 2023, over 157,000 employees achieved total business volume of 161.7 billion euros and an operating profit of 14.7 billion euros for the group. Allianz Capital Partners is one of the Allianz Group’s asset managers for alternative equity investments and are part of Allianz Global Investors. Investment focus is on investing into private equity, infrastructure and renewable energy.
* Including non-consolidated entities with Allianz customers.
** As of June 30, 2024.
Established in 1951, Kansai Electric Power (“Kansai”) is the largest electricity supplier in Western Japan and runs over 160 power plants including renewables, hydro, nuclear and thermal, representing 27.8 GW* of installed capacity in Japan. In 2023, over 8,400 employees achieved an operating revenue of 19.7 billion EUR [21.1 billion USD]**, managing total assets of 60.2 billion EUR [62.3 billion USD]** and Kansai is certified A3 by Moody’s***.
Utilising the technical expertise and experience cultivated through more than a quarter of century of endeavors in international businesses, Kansai currently participates in a total of 23 power generation, transmission line, and O&M projects in 12 countries from Asia, Europe and North America, totaled to 2.8 GW* of installed capacity. Kansai will continue to use its worldwide networks and relationships of trust with overseas partners to contribute to the world’s sustainable growth.
* As of March 31, 2024.
** For the year ended March 31, 2024.
*** As of August 7,2024.
TEPCO Power Grid (“TEPCO PG”) is engaged in power transmission and distribution business, as a fully owned subsidiary of the largest electricity company in Japan, Tokyo Electric Power Company Holdings, Inc. The service area of TEPCO PG covers the Tokyo Metropolitan Area, which accounts for nearly one-third of the total power consumption in Japan and serving 29 million customers.
TEPCO PG will achieve carbon neutrality, digitalization, and resilience through creating new value from the T&D network with partners from various companies and industries, while maintaining a world-leading reliable and stable power supply.
NEUCONNECT FINANCIAL CLOSE
NeuConnect is a privately-financed interconnector and following significant interest from the international financial community, the project reached Financial Close in 2022 with a consortium of more than 20 national and international banks and financial institutions:
Bank of China, BayernLB, Caixa, CIC, DZ Bank, European Investment Bank (EIB), Japan Bank for International Cooperation (JBIC), Lloyds, Mizuho, Nippon Life, Norinchukin, NordLB, Rabobank, Société Générale, Shinsei, Siemens Financial Services through Siemens Bank, SMBC, SMTB, Talanx Group represented by Ampega Asset Management, UK Infrastructure Bank.
