GreenYellow announces the largest financing operation for solar self-consumption in France.
- GreenYellow, via its Reservoir Sun entity, has just successfully completed a historic financing operation in partnership with Bpifrance, Caisse d’Epargne Ile-de-France and Caisse d’Epargne CEPAC.
- This initiative aims to finance the development and construction of 92 PV plants in France, representing a total capacity of 73 MWp.
- This operation demonstrates the attractiveness of decentralized solar power to companies and banks, with 70% of projects focusing on self-consumption.
Historic financing follows on from the success of GreenYellow and Reservoir Sun
This transaction, for a total amount of over 73 million euros, follows on from four major financing operations carried out by Reservoir Sun over the last three years, prior to its 100% acquisition by GreenYellow at the end of 2023. Bpifrance, Caisse d’Epargne Ile-de-France and Caisse d’Epargne CEPAC have thus renewed their confidence in GreenYellow. This trust reflects the company’s expertise and ability to manage complex projects, as well as the attractiveness of self-consumption projects for banks.
This major financing follows on from a number of successes for GreenYellow, notably in the industry and retail sectors. In November 2023, its Reservoir Sun entity inaugurated a 4.8 MWp self-consumption Solar Carport project at the Safran Nacelles production site, to cover more than 25% of the site’s electricity needs. In the same period, the company also inaugurated its largest self-consumption power plant in the Hauts-de-France region, as part of a long-term contract with the L’Oréal plant in Caudry, which now covers 10% of the site’s electricity needs and produces 1.2 GWh of low-carbon electricity each year.
Major retailers such as Cora and Métro have also put their trust in Reservoir Sun for self-consumption Solar Carport projects on their sites.
A transaction to finance a portfolio of 70% self-consumption PV plants
GreenYellow has raised €73 million to finance a portfolio of 92 PV plants. Of a total capacity of 73 MWp:
- 68% of the plants will be located in the northern half of France. This is a strong sign that self-consumption is no longer just a question of sunshine, but is increasingly linked to electricity prices.
- 70% will be installed as Solar Carports, in response to the compulsory solarization of parking lots in the retail and large business sectors, in accordance with the French Renewable Energy Act.
- 75% concern large companies in the trade and industry sectors.
- Some 5,260 tonnes of CO2 per year will be avoided thanks to the commitment of our clients. The objective of zero greenhouse gas emissions by 2050 is ambitious, but French companies are mobilizing, and this operation is proof of that.
Romain Butte, Managing Director of GreenYellow France comments: “Following the acquisition of 100% of Reservoir Sun at the end of 2023, we are delighted to have successfully concluded this new financing. This transaction testifies to the renewed confidence of our banking partners. With 70% of the portfolio made up of self-consumption plants, GreenYellow strengthens its leadership in this field, marking the start of a new era for solar self-consumption in France.”
“We’re delighted that GreenYellow is the leading player in self-consumption, and that we’re playing an active part in the paradigm shift in terms of financing such projects. We are proud of the relationship of trust we have developed with our banking partners in the course of our financing operations. The speed with which we sign our transactions demonstrates our experience and professionalism in the field.” adds Mathieu Cambet, Director of Decentralized Solar – GreenYellow France.
“We are proud to support GreenYellow and its Reservoir Sun entity, alongside Caisse d’Epargne Ile-de-France and Caisse d’Epargne CEPAC, in accelerating its development plan for predominantly self-consumption solar projects. This operation is a perfect illustration of our ability to operate in complex assets such as decentralized solar power, and to support market developments that accelerate companies’ environmental and ecological transition.” Jérôme Blot, Head of the Energy and Environment Department, Bpifrance.
“The Caisse d’Epargne Ile-de-France is delighted to support Reservoir Sun by Greenyellow in a new photovoltaic project financing. This operation, resolutely oriented towards self-consumption, reinforces the long-term partnership that has been established with Reservoir Sun by Greenyellow. It demonstrates our ability to support our clients over the long term, in innovative projects. The Caisse d’Epargne is thus supporting the deployment of self-consumption in France, and actively contributing to the energy transition.” Frédérique DELFRAYSSI, Head of the RE Project Financing Department – Caisse d’Epargne Ile-de-France.
Jérémy Estrader, Deputy Managing Director in charge of BDR at Caisse d’Epargne CEPAC, adds: “We are delighted to support Reservoir Sun by Greenyellow in the financing of this major portfolio, 70% of which consists of self-consumption PV plants. Through this transaction, Caisse d’Epargne CEPAC reaffirms its support for the development of renewable energies and its commitment to the energy transition.”
Participants in the operation:
Lenders: Bpifrance, CEIDF and CEPAC
Consultants: BCLP, 3E, Marsh, H3P
Borrower: Reservoir Sun by GreenYellow
Consulting: DGFLA, Ester
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