Marseille, November 23, 2017 – Cap Vert Energie has just finalized a €100 million bank refinancing deal that will give it almost sole ownership of its entire solar fleet in France, while strengthening its ability to fund its own growth. This deal positions the Cap Vert Energie Group as one of the new players to watch in France’s renewables market.
The funding came through Unifergie, a subsidiary of the Crédit Agricole Group and arranger of the deal, BPI France and La Banque Postale, and . The Cap Vert Energie Group’s collaboration with Unifergie reflects a broader partnership with the Crédit Agricole Group, which is currently assisting Cap Vert Energie in raising capital from institutional investors.
The refinanced portfolio is made up of 86 solar power plants located in France. These photovoltaic plants are installed on buildings whose owners Cap Vert Energie has maintained long-standing relations with. This commitment over time earned Cap Vert Energie favorable conditions from its financial partners over a 16-year period.
The new energy financial consulting firm Finergreen structured the deal, in collaboration with the firm Noveo Finance, which managed the hedging aspects.
With this deal, Cap Vert Energie is restructuring its debt, and has the equity it needs to support its ambitious growth targets. “This refinancing illustrates our ability to be among the leading independent producers in France. We are pursuing our development strategy in France and abroad, and by 2022 we plan to have multiplied our renewable power generating capacity eightfold, to over 850 MW in service and under construction,” stated Christophe Caille, co-founder of the Cap Vert Energie Group with Pierre de Froidefond and Hervé Lucas.
The deal’s players:
. Lenders: CREDIT AGRICOLE GROUP:
- UNIFERGIE: Olivier Bonin, Justine Arnaud
- BPIFRANCE FINANCEMENT: Laurent ALAMEDA; Patrick BERNARD; Hanna AMOYAL
- LA BANQUE POSTALE: Yannick Chaffaud; Nicolas Villoutreix
- Financial: Finergreen – Damien Ricordeau and Louis Catala
- Lenders’ legal counsel: FIDAL: Guillaume Ansaloni, Chavanet Gautier and Antoine de Sevin
- CVE‘s legal counsel: DLA Piper – Eric Villateau and Aurélie Bossert
- Energie Legal: Mounir Meddeb
- Rina: William Delabre
- Noveo Finance: Morand Drouot and Charlotte Lepage
About Cap Vert Energie:
As an independent producer of renewable energy, Cap Vert Energie develops, finances, and builds solar power plants and biomethane units to operate them on its own for their entire lifespan. The Group’s goal is to provide sustainable responses to the energy and environmental needs of businesses and communities, in a direct energy sales model. Cap Vert Energie is certified ISO 9001:2008 and ISO 14001:2015 for all of its activities. Based in Marseille, with regional offices in Toulouse, Rennes, and Fontainebleau, Cap Vert Energie has an international presence in Africa and through its subsidiaries in Chile and North America. As of October 30, 2017, the fleet in operation and under construction totaled 100 MW of cumulative power, for projected energy sales of €28 million. The company employs 75 employees.