Octopus Energy Investments closes US$67.3 million refinancing on French PV portfolio

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
The 17.4MW portfolio is comprised of 66 rooftop solar projects located across Southern and Central France. Image: Peter Jelliffe / Flickr

Octopus Energy Investments announced that it has refinanced a 17.4MW portfolio of solar assets in France. The total deal value is tabbed at US$67.3 million and is structured as a fully amortizing 14-year loan.

The new financing was provided by two banks — Bpifrance and Credit Cooperatif — who acted as the mandated lead arrangers. The portfolio is comprised of 66 rooftop solar plants located across Southern and Central France.

Eleco Capital and Linklaters advised Octopus, while WFW, Mazars and Willis advised the lenders.

Matt Setchell, head of Octopus Energy Investments, said: “This refinancing improves returns for our investors and further establishes our presence in France – a country now poised to lead European renewable energy growth over the next 5 years. We are exploring ways to continue to participate in France’s clean energy transition.”

Edouard Brémond, Eleco Capital founder, added: “We were very pleased to advise Octopus Investments with structuring and closing this transaction. It is yet further proof that PV plants are a mature asset class, and an attractive lending opportunity for banks. We look forward to continuing to work with Octopus Investments as they expand their existing portfolio of French assets.”

Read Next

April 20, 2021
Amazon has announced plans for nine new utility-scale solar and wind projects in the US, Canada, Spain, Sweden and the UK, putting it on track to powering all its activities with renewables by 2025.
April 12, 2021
Spanish energy company Acciona has secured shareholder approval for an initial public offering (IPO) of its renewables division, providing a boost for the firm’s plans to reach 6GW of installed PV by 2025.
April 9, 2021
Spanish independent power producer Opdenergy is preparing to launch an initial public offering to help fund the development of 3.7GW of renewables projects across Europe and the Americas.
April 8, 2021
Iberdrola has formed a strategic alliance with insurance company Mapfre that will initially invest in 230MW of clean energy projects in Spain, including 130MW of solar PV.
March 30, 2021
South Korea-based solar module manufacturer Q CELLS has filed patent infringement complaints in both Germany and France against Astronergy.
March 29, 2021
Clean energy investment platform Renewable Power Capital (RPC) has announced the creation of a new joint venture that will develop and acquire 3.4GW of solar PV in Spain.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 20, 2021
Upcoming Webinars
April 28, 2021
4:00 - 4:30 PM CET
Solar Media Events
May 11, 2021