Renewables developer Q Energy has closed EUR 50.4 million (US$55.7 million) in financing for a 74.3 MW floating solar plant covering 127 ha of former gravel pits at a quarry in the Haute-Marne department in northeastern France.
The financing was arranged by Crédit Agricole Transitions & Energies, through its financing arm Unifergie, and Bpifrance. Construction is progressing, with 134,649 solar modules installed on floats. The plant will generate enough green energy to power 37,000 residents, preventing around 18,000 tonnes of CO2 emissions annually. In September 2023, Q Energy said it would take 18 months to complete. Pre-commissioning is set for Q1 of 2025.
Advisors involved in the transaction:
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Lenders:
- Legal (documentation): De Gaulle Fleurance & Associés
- Legal (audit): Jeantet
- Technical: Synéria
- Insurance: Marsh
- Financial model: Finance Consult
- Electricity market prices: Aurora
- Market indexes: Ernst & Young
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Borrower:
- Legal (documentation): Jeantet
- Financial: Tevali Partners
- Interest rate: Novéo Finance
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