Leading French renewable energy producer Fonroche Energie has secured a €52-million credit line with a banking syndicate led by Credit Agricole. This finance will help Fonroche to increase its green portfolio, an expansion plan highlighted by the construction of 20MW of solar greenhouses in France.
In order to avoid being adversely affected by the slowdown in the French solar industry, Fonroche is also planning to build a number of overseas systems and has already signed construction agreements for several of these. Additional resources to help fund these developments will come from investment company Eurazeo, which is providing a €15-million tranche in equity which follows an initial investment of €25 million in April 2010.
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