€70M Financing For 133 Solar Projects Across France

France-based decentralized energy transition company GreenYellow has received €70 million in funding from Caisse d’Épargne Île-de-France to build 133 solar power plants across mainland France. These plants have a total capacity of 74.5 MW and will produce over 85 GWh of electricity each year. 30% of the total electricity generated will be used for self-consumption, while 70% will be supplied to the grid.

Solar rooftops account for about 2/3^rds of its portfolio while photovoltaic carports account for the remaining 1/3^rd , along with some ground-mounted plants on commercial and industrial properties. It also includes initial projects integrating photovoltaics with battery energy storage systems (BESS).

GreenYellow has completed 7 financing deals in 4 years. It has refinanced 510 projects and installed 273 MW of solar capacity. It has also raised €270 million in debt. This project follows regulations that require solar panels on rooftops and large parking areas under the tertiary decree and APER law.

Caisse d’Épargne Île-de-France confirmed its support for the project, highlighting the role of solar energy in increasing self-consumption and improving national energy supply. The financing was arranged with support from advisors: Bryan Cave Leighton Paisner for legal matters, Syneria for technical aspects, H3P for financial modeling, and Marsh for insurance. Bentam Avocats advised the borrower.

Solar PV is a big part of the energy mix in France. The French Energy Regulatory Commission (CRE) recently announced the winners of the latest and the 3^rd round of the PPE2 auction for the technology-neutral category of renewables, where solar PV won over 92% of the 500.6 MW capacity awarded (see France Awards Over 500 MW In Technology-Neutral RE Tender).

On the other hand, one of the oldest solar companies in the world, Photowatt, recently decided to down its shutters (see End Of An Era: Shutters Down For French Solar Module Maker Photowatt).