Rely, the joint venture created in November 2023 by Technip Energies and John Cockerill to develop large-scale green H₂ and Power-to-X production solutions, has signed a Memorandum of Understanding with French and Belgian Export Credit Agencies Bpifrance Assurance Export and Credendo to define how these two main national business enablers will contribute to Rely’s commercial development by enabling attractive project financing for its clients. This strengthens Rely position and competitiveness, leveraging its standard offering.

This signature sets the willingness of the two Export Credit Agencies (ECAs) to provide Rely clients with insurance, co-insurance or re-insurance schemes with the view of maximizing the project eligibility to ECA financing, based on the large eligible sourcing that the standardized product approach of Rely will enable. This will facilitate the involvement of commercial banks as lenders to Rely’s clients for debt financing at competitive rates. ECA’s will provide insurances to commercial banks for loans granted for project financing, covering commercial and political risks up to 95% of commercial bank’s losses in case of default, thus enabling credit approval by lenders.

Damien Eyriès, CEO of Rely said, “We are honored having signed this agreement with Bpifrance Assurance Export and Credendo, as it is constructed to ease the financing support of the Power-to-X projects of our clients. This offer to our client is a testimony of the maturity of our products and come to complement our portfolio as Clear100+, the 100-MW standardized yet configurable platform we launched in June 2024.”