French independent power producer (IPP) Technique Solaire has raised €302 million (US$343 million) in senior debt financing to build its European PV portfolio.
For the first time, the financing secured by the French IPP will cover several European countries. The solar portfolio will consist of 341 projects across France, Spain and the Netherlands with a combined capacity of 240MW. France will see the bulk of this capacity with 185MW, followed by Spain with 32MW and the Netherlands the remaining 23MW.
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It is also the company’s largest financing round so far, both in terms of funds raised and the size of the portfolio of which it will support the construction.
Most of the projects will begin construction this year, with the remainder of the projects beginning construction in 2026 and 2027. The company aims to build a diverse range of projects including rooftop solar, agrivoltaics, ground-mounted solar and floating solar.
French banking firms Bpifrance, Crédit Agricole Transitions & Energies – along with other subsidiaries of the Crédit Agricole group – and Société Générale have provided the funds for this pan-European solar portfolio.
This latest debt financing will support the company’s growth and is within its strategy to raise €4 billion (US$4.5 billion) by 2030 to reach 4GW of operational solar PV. Its portfolio consists of 1GW of operational or under construction across France, India, Spain and the Netherlands.
With this latest financing, the French IPP has raised over €800 million in senior debt since 2020 to finance the construction of more than 600MW of solar PV.
