Omnes Capital and Pro BTP have launched the first French fund dedicated to financing the construction or renovation of high environmental performance public and private buildings in France.
With €50 million (US$54 million) of sponsorship from Pro BTP, the fund has a target size of €100 million (US$108 million). Its strategy is to invest in works that go beyond applicable energy efficiency requirements, favouring buildings with a small carbon footprint.
With an average target holding period of five years, investments will concern small-scale commercial projects with a strong regional dimension. SMEs in the sector and local public sector will be involved in projects with the aim of developing total capacity of 500,000 m².
The market for high environmental performance buildings is a fast-growing market. With the French law on transition to energy efficiency, buildings are subject to growing demands in terms of energy and environmental performance, which should become concrete with forthcoming “Réglementation thermique” building regulations to improve energy efficiency. Furthermore, the commercial property sector represents around 1 billion m2 in France, around half of which is over 35 years old and therefore requires considerable renovation works.