Mirova Helps To Finance The Construction Of 175 Photovoltaic Projects In France
Girasole Energies, a French independent producer of renewable energy, announces that it has concluded a financing agreement for a total amount of 77 million euros with its shareholder Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable finance, and three banks of the BPCE group.
This financing, by allowing the construction of 175 new photovoltaic installations by June 2024, demonstrates the ambition of Girasole Energies to establish itself as a reference in the sector with a target of 1,000 plants in operation by 2028.
The senior debt was arranged and subscribed 100% by Groupe BPCE via BPCE Energéco, Banque Palatine and Banque Populaire Val de France. Girasole A.M., a subsidiary of Girasole Energies, completes this senior financing by providing equity, through the issuance of convertible bonds to the Mirova team dedicated to the energy transition.
Financing the construction of 175 photovoltaic projects
With these funds, Girasole Energies plans the deployment of 175 photovoltaic power plants before the end of the first half of 2024, or 50 MWp in the space of twelve months. These power plants to be built on agricultural buildings, on existing roofs and on parking canopies, mesh the French territory and benefit from secure sales contracts for a period of 20 years.
Target: 500 MWp by 2028
This new financing makes possible the ambitious pace of construction of rooftop photovoltaic power plants targeted by Girasole Energies. Thanks to its partners, the independent power producer intends to exceed 1,000 plants in operation by 2028, with a total installed capacity of more than 500 MWp.
New financing is already planned to continue and expand this growth, with 75 MWp to be built in 2024, and then about 100 MWp per year until 2028. Girasole’s teams are ready to take on this bold challenge.
“These agreements, signed with Groupe BPCE banks in August 2023, validate the effectiveness of Girasole Energies' financial model. I would like to congratulate Girasole’s finance and project teams, as well as our advisors, Finergreen, Numa and Noveo for their ability to work together to sign these financings in a short period of time. I am also delighted with the close and unique partnership established with Groupe BPCE both via Mirova and through the banking pool composed of Banque Palatine, Banque Populaire Val de France and BPCE Energéco.” – Ivan Renaudin, Associate Director of Girasole Energies
“We are delighted to see this financing implemented with the help of the Banque Palatine and the Banque Populaire Val de France. We would like to thank the Girasole Energies Group for their trust. This collaboration illustrates the vocation of BPCE ENERGECO, in the continuity of Groupe BPCE’s commitment, to support our customers' investments aimed at promoting the ecological transition. It is with great enthusiasm that we are already planning to support the Girasole Energies group in its future development.” – Grégory Faillenet, CEO of BPCE ENERGECO
“Following Mirova’s entry into the capital of Girasole Energies in early 2023, this new financing phase alongside our partners in Groupe BPCE is helping to accelerate the deployment of solar photovoltaic energy in the heart of French territories. Our investment strategy aims to support the long-term development and growth of developers committed to accelerating the energy transition, such as Girasole Energies.” – Anne-Laure Messier, Investment Director at Mirova.
Mirova
Mirova is an affiliate of Natixis Investment Managers.
Portfolio management company - French Public Limited liability company
Regulated by AMF under n°GP 02-014
RCS Paris n°394 648 216
59, Avenue Pierre Mendes France – 75013 – Paris.
https://www.mirova.com/
Natixis Investment Managers
Natixis Investment Managers is a subsidiary of Natixis.
Portfolio management company - French Public Limited liability company
RCS Paris n°453 952 681
43, Avenue Pierre Mendes France – 75013 – Paris.
https://www.im.natixis.com/
This communication is for information only and is intended for investment service providers or other Professional Clients. The analyses and opinions referenced herein represent the subjective views of the author as referenced unless stated otherwise and are subject to change. There can be no assurance that developments will transpire as may be forecasted in this material.
Copyright © 2023 Natixis Investment Managers S.A. – All rights reserved
This financing, by allowing the construction of 175 new photovoltaic installations by June 2024, demonstrates the ambition of Girasole Energies to establish itself as a reference in the sector with a target of 1,000 plants in operation by 2028.
The senior debt was arranged and subscribed 100% by Groupe BPCE via BPCE Energéco, Banque Palatine and Banque Populaire Val de France. Girasole A.M., a subsidiary of Girasole Energies, completes this senior financing by providing equity, through the issuance of convertible bonds to the Mirova team dedicated to the energy transition.
Financing the construction of 175 photovoltaic projects
With these funds, Girasole Energies plans the deployment of 175 photovoltaic power plants before the end of the first half of 2024, or 50 MWp in the space of twelve months. These power plants to be built on agricultural buildings, on existing roofs and on parking canopies, mesh the French territory and benefit from secure sales contracts for a period of 20 years.
Target: 500 MWp by 2028
This new financing makes possible the ambitious pace of construction of rooftop photovoltaic power plants targeted by Girasole Energies. Thanks to its partners, the independent power producer intends to exceed 1,000 plants in operation by 2028, with a total installed capacity of more than 500 MWp.
New financing is already planned to continue and expand this growth, with 75 MWp to be built in 2024, and then about 100 MWp per year until 2028. Girasole’s teams are ready to take on this bold challenge.
“These agreements, signed with Groupe BPCE banks in August 2023, validate the effectiveness of Girasole Energies' financial model. I would like to congratulate Girasole’s finance and project teams, as well as our advisors, Finergreen, Numa and Noveo for their ability to work together to sign these financings in a short period of time. I am also delighted with the close and unique partnership established with Groupe BPCE both via Mirova and through the banking pool composed of Banque Palatine, Banque Populaire Val de France and BPCE Energéco.” – Ivan Renaudin, Associate Director of Girasole Energies
“We are delighted to see this financing implemented with the help of the Banque Palatine and the Banque Populaire Val de France. We would like to thank the Girasole Energies Group for their trust. This collaboration illustrates the vocation of BPCE ENERGECO, in the continuity of Groupe BPCE’s commitment, to support our customers' investments aimed at promoting the ecological transition. It is with great enthusiasm that we are already planning to support the Girasole Energies group in its future development.” – Grégory Faillenet, CEO of BPCE ENERGECO
“Following Mirova’s entry into the capital of Girasole Energies in early 2023, this new financing phase alongside our partners in Groupe BPCE is helping to accelerate the deployment of solar photovoltaic energy in the heart of French territories. Our investment strategy aims to support the long-term development and growth of developers committed to accelerating the energy transition, such as Girasole Energies.” – Anne-Laure Messier, Investment Director at Mirova.
Mirova is an affiliate of Natixis Investment Managers.
Portfolio management company - French Public Limited liability company
Regulated by AMF under n°GP 02-014
RCS Paris n°394 648 216
59, Avenue Pierre Mendes France – 75013 – Paris.
https://www.mirova.com/
Natixis Investment Managers
Natixis Investment Managers is a subsidiary of Natixis.
Portfolio management company - French Public Limited liability company
RCS Paris n°453 952 681
43, Avenue Pierre Mendes France – 75013 – Paris.
https://www.im.natixis.com/
This communication is for information only and is intended for investment service providers or other Professional Clients. The analyses and opinions referenced herein represent the subjective views of the author as referenced unless stated otherwise and are subject to change. There can be no assurance that developments will transpire as may be forecasted in this material.
Copyright © 2023 Natixis Investment Managers S.A. – All rights reserved