French solar developer TSE has raised €100 million (US$104.5 million) to support the development of seven new solar projects in France, with a combined capacity of 120MW.
Banks Crédit Agricole and Caisse d’Epargne provided the funds, and the deals were concluded last December. TSE plans to build the projects in the northern French departments of Ardennes, Nord and Seine-Maritime, and the departments of Cher and Loiret to the south of Paris, and did not provide a timeline for construction and commissioning.
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“Thanks to the commitment of our teams, the support of our financial partners, the industrialisation of our processes and our forward-looking strategy, we are consolidating our position as a benchmark player, both in terms of quality and innovation and now in terms of the quantity of projects developed, making TSE a leading player in renewable energy in France,” said TSE president Mathieu Debonnet.
TSE currently has 321MW of solar capacity in operation or under construction in France, with a further pipeline of 2.5GW, which it aims to double by 2027. The company aims to increase its project capacity in operation or under construction to 1GW by the end of 2027, and achieve B-Corp certification by the end of 2026.
The news follows TSE’s completion of a number of successful fundraising rounds in 2024, including a separate €158 million deal signed with Crédit Agricole and Caisse d’Epargne, and a €65 million deal for green bonds agreed with the Eiffel Investment Group.
The French solar sector saw considerable interest in 2024, particularly in its upstream component, with Chinese manufacturer DAS Solar announcing plans to build a module assembly plant in the country, and French independent power producer (IPP) Reden telling PV Tech Premium that “we want to be an IPP with a module production line”.
Solar Media will host its annual Solar Finance & Investment Europe event in London on 4-5 February 2025. This event annually attracts infrastructure funds, institutional investors, asset managers, banks and development platforms at the forefront of European renewables; the vast majority of which are responsible for billions in active and prospective investments in the Europe’s energy transition. For more details, visit the website.
