The French independent power producer (IPP) REDEN Solar has refinanced the bulk of its domestic assets raising €270 million (US$312 million) in the process.
The company said a total of 92 loans with 17 banks and covering 150 projects had been consolidated.
Try Premium for just $1
- Full premium access for the first month at only $1
- Converts to an annual rate after 30 days unless cancelled
- Cancel anytime during the trial period
Premium Benefits
- Expert industry analysis and interviews
- Digital access to PV Tech Power journal
- Exclusive event discounts
Or get the full Premium subscription right away
Or continue reading this article for free
“This cash surplus will be almost entirely dedicated to financing the acceleration of the Group's growth, in particular through the purchase of plants and projects in France, Portugal and Chile,” said Vincent Wattignier, CFO, REDEN Solar.
“The quality of our historical assets and the confidence of our banking partners have enabled us to complete this transaction which not only greatly simplifies the debt structure and improves financial conditions, but also allows us to generate significant additional cash flow,” added Wattignier.
REDEN Solar was advised by Astris Finance and Linklaters.
