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[PRESS RELEASE] Technique Solaire has set up €111 million of senior debt for the financing and refinancing of its solar photovoltaic projects in France

  • Technique Solaire has set up €111 million fund through 3 senior financing operations
  • This is the largest senior debt transaction ever put in place by Technique Solaire Group
  • This large-scale transaction will enable the Group to continue its development under the best possible conditions

Technique Solaire, has set up a long-term financing transaction for a total amount of 111 M€ through a banking consortium comprised of Unifergie and Crédit Agricole de la Touraine et du Poitou.

This transaction includes two Brownfield tranches (refinancing of 120 existing power plants), of respectively EUR 16 and 19 million and a Greenfield tranche of EUR 76 million.

The Greenfield tranche provides financing for a portfolio of projects representing a capacity of 54 MWp which will be added to the Group's portfolio of (i) 81 MWp that are already in operation and (ii) 35 MWp that are already under construction. Thus, the Group's total operating portfolio should rapidly reach 170 MWp.

This forthcoming 110% increase in the installed capacity reflects the change in the growth rate currently being implemented by the Group. This portfolio of 54 MWp represents all of the Technique Solaire projects which were awarded a tariff mechanism under the French Energy Regulatory Commission (CRE) 4.5, 4.6, 4.7, and 4.8 tenders, launched by the Ministry of Ecological and Solidarity Transition.

This major "portfolio" financing transaction demonstrates the Group's ability to carry out large and complex financial transactions, with optimal financing terms that provide excellent conditions for its development.

Also, Technique Solaire Group continues to play its role in the fight against global warming and to fulfil its objectives: to be a player in the energy transition, to participate in the development of farms through the financing of projects (greenhouses, storage sheds, breeding sheds, etc.) and by contributing to regional development.

Edouard Dazard, Director of Finance at Technique Solaire, explains:In the view of our ambitious development goals (1 GW operational projects by the end of 2024), the Technique Solaire Group has set up an approach in which each financing operation is part of a global financial strategy". He continues: "This principle is perfectly illustrated by this 3-brick transaction consisting in coupling a senior financing transaction for Greenfield projects (1), part of the equity of which is financed by the cash out generated by two senior refinancing transactions for Brownfields projects (2 and 3)”.

Lionel Thémine, Co-founder and Managing Director in charge of Finance at Technique Solaire, adds: "The Group is committed to a dynamic & strong growth in its business. The materialization of these transactions reflects the existing confidence with our financial partners. Moreover, these funds allow us to address with serenity the difficult circumstances because of the Covid-19 crisis. We even intend to accelerate our development in the coming months”.

Christine Delamarre, Managing Director of Unifergie: "Unifergie is happy to have once again accompanied Technique Solaire in an important stage of its development and, thanks to our proximity, to have succeeded in doing so during this confinement period".

Serge Granier, Head of Corporate Networks and Specialised Client at Crédit Agricole de la Touraine et du Poitou: "Acting every day in the interest of our customers and society ; our support for the Technique Solaire Group has been historic since its creation and we are very proud to have financed this large-scale transaction, which demonstrates the Technique Solaire Group's strong dynamic in the development of renewable energies in our region, as well as at national and international level”.

                                                                                                                     

Our advisors on this operation:

Financial transaction advisor:                Finergreen
Hedging advisor:                                    ESTER 
Legal counsel:                                        Watson Farley & Williams

Lender-side advisors on this operation:

Legal counsel:                                         Fidal
Technical advisor:                                   Rina consulting
Legal auditor:                                          Energie Legal
Insurance auditor:                                   Marsh
Financial model auditor:                          H3P audit et conseil

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About Technique Solaire:

Created in 2008, Technique Solaire Group specializes in the development, financing, construction and operation of renewable energy production units (solar and methanization) in France and internationally. With nearly 80 employees, the group has 61 subsidiaries grouped together under the holding JLT Invest, including 55 project companies. The main subsidiaries are: Techniques Solaire, Techniques Solaire Prestations, Technique Biogaz and JLTM Energy.

More information on www.techniquesolaire.com/en/

Press contact:

Laura Guénin: laura.guenin@techniquesolaire.com  - +33 (0)7 64 37 46 04

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