GreenYellow secures 31 million euros in financing with Caisse d'Epargne CEPAC, acting as Mandated Arranger, and Natixis, acting as Cover Bank. This financing is intended for the construction of 55 photovoltaic power plants in mainland France and the French overseas territories.
GreenYellow implements a portfolio financing covering a cumulative capacity of 32 MWp. This financing operation, which closes on July 21, 2023, consists of 3 tranches, and will enable the construction of 55 solar plants by the end of 2024, including a 2.2 MWp self-consumption plant, representing 7% of the total capacity. The annual production of these 55 plants will be equivalent to the consumption of around 10,000 households, and will avoid the emission of more than 1,800kg of CO2 per year.
A tailor-made financing model has been developed to adapt to the specific features of each project, including progressive commissioning as the portfolio progresses. This portfolio is distinguished by its diversity, including:
- Four geographical regions: mainland France and overseas territories of Guadeloupe, Martinique (West Indies) and French Guiana.
- Two technologies: carport and rooftop solar plants.
- A wide range of installed capacities, from 100 kWp to 11,000 kWp.
- Four types of contracts for the sale of electricity: CRE (the Energy Regulatory Commission) calls for tenders with or without market sale ("Mesure d'urgence"), Guichet Ouvert and Self-consumption.
This operation demonstrates GreenYellow's ability to put in place large-scale financing to contribute to the energy transition in a volatile macroeconomic context.
Stanislas LEBEL,CFO of GreenYellow France,comments: " GreenYellow is delighted to be working with CEPAC and BPCE Group on this transaction, which represents an important milestone in our long-term operator strategy. This portfolio financing also testifies to the expertise of GreenYellow France's teams in development, financing and construction of a wide variety of projects in mainland France and the French overseas territories."
Lucie HAUSBERG, Head of Structured Operations at Caisse d'Epargne CEPAC, comments: "By supporting GreenYellow, CEPAC confirms both its active role in the investments of this historic producer of renewable energy on the French market and its leadership in the financing of renewable energies. Thanks to the expertise of our teams, we have become the second-largest private financier of renewable energies in France, with nearly 1.5 billion euros in outstandings."