Voltalia seeks €376m to reach 2.6GW-by-2023 goal

Facebook
Twitter
LinkedIn
Reddit
Email
Voltalia reached its 1GW renewable installation goal in 2019, one year ahead of schedule (Credit: Fotopedia)

French developer Voltalia has turned to long-standing and new backers to finance its renewable roll-out, meant to more than double within five years.

On Monday, the firm said it will seek to raise around €376 million (US$428 million) through a capital increase, open until 8 July.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

The firm has already secured three-quarters of the pot – €283 million, or US$322 million-plus – from its investor and majority owner Creadev, its existing backer Proparco and the EBRD.

Should the €376 million target not be met via the capital increase, Voltalia cited “various complementary” resources it said it can tap into to fund its renewable expansion plans,

At least €300 million of the total will go towards Voltalia's goal to have 2.6GW of clean energy installed or under construction by 2023. The existing 1GW-by-2020 target was met one year ahead of schedule.

In line with the EBRD’s requirements, at least €50 million of the total will be spent in Morocco, Tunisia, Egypt, Greece and the other target markets of the development financier.

The firm may use part of the fresh funds to acquire fellow developers, with any takeovers likely to target firms in Africa, in Latin America or in Europe.

Contacted by PV Tech, Voltalia had not clarified the share solar PV will represent in the new 1.6GW by the time this article was published.

The firm – which inked in May what it billed as France’s first corporate PPA – remains active in the European state but also beyond, with projects in Albania, Egypt, Myanmar, Kenya and Brazil.

Voltalia’s financing push follows its purchase of fellow developer Martifer in 2016, as well as its move last month to enter exclusive talks to buy rooftop PV and energy efficiency specialist Helexia.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
2 December 2025
Málaga, Spain
Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.
10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

July 11, 2025
Renewable electricity generation has grown more than twice as fast as total global electricity generation since 2012, according to the International Renewable Energy Agency (IRENA).
July 11, 2025
The Asia Pacific (APAC) region has accounted for 69% of the 589GW solar PV inverters shipped in 2024, according to a report from analyst Wood Mackenzie.
July 10, 2025
German renewables company BayWa r.e. has secured a €3 billion (US$3.5 billion) loan for 'operational initiatives and pipeline expansion.'
July 10, 2025
Copenhagen Energy has partnered with Thy-Mors Energi to set up a 100MW PV and BESS project in Ballerum, about 370km from Copenhagen. 
July 9, 2025
Many European countries generated record levels of solar power in the first half of 2025, according to figures from Fraunhofer ISE.
July 9, 2025
Indian solar water pump and motor manufacturer Shakti Pumps has successfully raised INR2.9 billion (US$34.1 million) to build a solar cell and module manufacturing plant.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK