Q ENERGY raises over EUR 50m to finance Europe´s biggest floating solar project
Berlin/Avignon. Q ENERGY is pleased to announce the debt financial close of its “Les Ilots Blandin” project for a total amount of EUR 50.4m, arranged by Crédit Agricole Transitions & Energies and Bpifrance.
Once completed, the 74.3 MW floating solar power plant will be the largest of its kind in Europe. Covering 127 hectares of former gravel pits in the Haute-Marne department. The construction is already well underway. 134,649 solar modules mounted on floats will supply the equivalent of 37,000 inhabitants with clean, green electricity and avoid the emission of around 18,000 tonnes of CO2 per year. Pre-commissioning is planned for the first quarter of 2025.
“We are very grateful for the great trust and commitment of our financing partners in this project. Together, we are taking one of the most innovative technologies for clean power generation to a new level and giving a further boost to renewable energies in France”, says Ludovic Ferrer, Commercial Director of Q ENERGY France.
“As a Climate Bank, Bpifrance is proud to contribute to the financing of the largest floating solar power plant in Europe. This project represents a major advancement and addresses the energy transition challenges of the future”, says Pascale Courcelle, Head of Real Estate, Energy and Environment Financing of Bpifrance.
"We are very proud, alongside participating Crédit Agricole Group banks*, to be one of the financial partners of Q ENERGY, an innovative player in the energy transition market. The financing of this project will accelerate the advent of renewable energies in Europe and support everyone towards carbon neutrality," said Christine Delamarre, Deputy Chief Executive Officer of Crédit Agricole Transitions & Energies.
Advisors involved in the transaction
Lenders:
- Legal (documentation): De Gaulle Fleurance & Associés
- Legal (audit): Jeantet
- Technical: Synéria
- Insurance: Marsh
- Financial model: Finance Consult
- Electricity market prices: Aurora
- Market indexes: Ernst & Young
Borrower:
- Legal (documentation): Jeantet
- Financial: Tevali Partners
- Interest rate: Novéo Finance
* LCL, Crédit Agricole Sud Rhône Alpes, Crédit Agricole Nord Est, Crédit Agricole Champagne Bourgogne
Photo Construction Site Les Ilot Blandin (© Romain Berthiot)
Media Contact
Q ENERGY Solutions SE
Communications
Amanda Baudry, Christian Köhn
media@qenergy.eu
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