Q ENERGY raises over €50 million to finance Europe's biggest floating solar project
Published by Jessica Casey,
Editor
Energy Global,
Q ENERGY has announced the debt financial close of its ‘Les Ilots Blandin’ project for a total amount of €50.4 million, arranged by Crédit Agricole Transitions & Energies, through its financing arm Unifergie, and Bpifrance.
Once completed, the 74.3 MW floating solar power plant will be the largest of its kind in Europe, covering 127 ha. 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 tpy of CO2. Pre-commissioning is planned for 1Q25.?
“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,” said 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,” added Pascale Courcelle, Head of Real Estate, Energy and Environment Financing of Bpifrance.
“We are very proud 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,” concluded Christine Delamarre, Deputy CEO 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.
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Read the article online at: https://www.energyglobal.com/solar/04092024/q-energy-raises-over-50-million-to-finance-europes-biggest-floating-solar-project/
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