RTE international acquires an additional 5% of TEP shares from the French Development Agency (AFD)
Mounia Ait Ofkir, Director of the AFD agency in Papeete, and Veronika Milewski, Chief Executive Officer of RTE international, finalized on November 8, 2022 the acquisition by RTE international of an additional 5% of TEP shares from AFD.
Copyright des photos: TEP
With a 20% shareholding since April 2022, RTE international now holds a 25% stake in the Tahitian electricity transmission network. RTE international is thus strengthening its commitment to TEP and bringing its expertise to this island network.
RTE international has been providing engineering and technical consultancy services to Pacific power transmission companies for several years and has developed expertise in island networks. By strengthening its partnership with TEP, RTE international wishes to become more involved with this infrastructure manager through a real technical partnership.
RTE international will bring the expertise acquired in France as the operator of Europe’s largest electricity transmission network, and in return will benefit from TEP’s know-how on the technical and regulatory issues of autonomous networks.
This latest acquisition strengthens RTE international’s position within TEP and its presence in the Pacific zone.
“We are very pleased to be supporting TEP, which is a central link and promoter of the energy transition in Polynesia. Our expertise in network management will allow us to create a real technical partnership with TEP and will thus contribute to the solutions put in place to meet the energy challenges for Polynesians and the environment.”
“AFD is delighted that its exit from TEP’s capital will be in favor of RTEi, whose expertise will strengthen local skills. Even though we are no longer trustees, we are and will remain strongly committed to working alongside TEP as a donor in order to finance studies and the development and renewal of the network, in order to support the energy transition in French Polynesia.”
RTE international is a consulting and engineering company covering all aspects of electricity transmission. It serves its clients throughout the world to help them develop reliable, competitive electricity systems that meet the challenges of the energy transition.
As a subsidiary of RTE, RTE international offers stakeholders in the electricity sector tailor-made solutions for the development, operation and maintenance of networks.
Since its creation in 2006, its experts, drawing on the know-how and skills developed over 70 years of RTE, have carried out more than 300 projects in some 50 countries across all continents. RTE international employs nearly 80 members of staff and mobilises almost 100 experts per year.
Agence Française de Développement (AFD) is present in all French Overseas Territories and finances and supports projects that improve living conditions for populations and that promote sustainable development. Through its financing, expertise and knowledge production, it supports the local public sector and businesses in carrying out their projects.
‘Transporting our energies for the sustainable development of French Polynesia’
Created in 1985, TEP is a mixed economy company that transports Tahiti’s electrical energy from generation facilities to distribution facilities. Its role is essential to ensure the continuity of electrical service in Tahiti, to promote the connection of renewable energies to the transmission network, and thus to facilitate the energy transition in French Polynesia.