Langa closes the refinancing of 99 solar power plants in France
Langa, has announced the successful refinancing of a portfolio of 99 building-integrated and ground-mounted solar power plants in mainland France and Corsica.
The Portfolio has a total installed capacity of 49 MWp, spread over 97 building-integrated plants (40 MWp) and 2 ground-mounted power plant (9 MWp), held by 21 SPVs. The power plants composing the Portfolio have been completed between 2011 and 2014, and were initially financed on a project by project basis through non-recourse project finance facilities.
Langa took advantage of the attractive market conditions and of the Portfolio’s outstanding operational track record to refinance its existing debt. The refinancing allowed Langa to extend the maturity of its financing to 16 years, lower debt service coverage ratios and significantly reduce the cost of financing.
The €150 million facility is led by Unifergie and La Banque Postale acting as Mandated Lead Arrangers, with the participation of BPI, Triodos and Arkea. The debt is located at the level of a holding company that owns all project SPVs within the Portfolio. The proceeds of the Refinancing will be used by Langa to cover corporate expenses and to fund its ambitious growth strategy.
Astris Finance acted as exclusive financial advisor to Langa for the raising of the €150 million (US$ million) facility.
Country news
-
-
May 30, 2016
KfW Ipex-Bank finances Neoen wind and solar projects in France
KfW IPEX-Bank has recently announced that it will provide loans to the French energy provider Neoen to support the execution of a project portfolio, which involves a solar PV facility with a total capacity of 30 MW and two wind farms for a total capacity of 46 MW in France. Read more -
May 30, 2016
EDF Group sells stake in three offshore wind farms projects off the French coast to Enbridge
EDF Energies Nouvelles, EDF Group subsidiary has announced a new partnership agreement with Enbridge Inc., a North American energy sector company, including renewable energy. The agreement covers the development, construction and operation of three French offshore wind farms, totaling 1,400 MW of installed capacity. Read more -
May 30, 2016
JLEN announces acquisition of Parc Eolien Le Placis Vert wind farm
John Laing Environmental Assets Group (JLEN) has announced that it has entered into an agreement with Energiequelle GmbH (Energiequelle) to acquire 100% of the Parc Éolien Le Placis Vert wind farm. The consideration for the acquisition, which is expected to complete over the coming weeks, is approximately €2.5 million (US$2.8 million). Read more -
May 27, 2016
Groupe Eurotunnel to acquire 100% of Eleclink from STAR Capital
Groupe Eurotunnel and STAR Capital have signed a conditional agreement for the purchase by Groupe Eurotunnel of STAR Capital’s 51% share of ElecLink. Read more -
May 27, 2016
NTR and Envision bid for Velocita
NTR and Envision Energy are set to acquire Velocita, an independent European developer, owner and operator of wind and renewable energy projects. The team is among the final bidders for the acquisition. Read more
