This operation, amounting to over 73 million euros in total, follows on from four major financings over the past three years carried out by Reservoir Sun, 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 both the company's expertise and its ability to manage complex projects, as well as the attractiveness of self-consumption projects for banks.
This large-scale financing comes on the heels of significant successes for GreenYellow, notably in the industrial and retail sectors. In November 2023, its Reservoir Sun entity inaugurated a 4.8 MWp self-consumption shading project on the Safran Nacelles production site, to cover over 25% of the site's electricity needs. During 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 factory in Caudry, which currently covers 10% of the site's electricity needs and produces 1.2 GWh of low-carbon electricity every year. Major retailers such as Cora and Métro have also entrusted in Reservoir Sun for self-consumption solar shading projects on their sites.
A operation to finance a portfolio of 70% self-consumption solar power plants
GreenYellow's debt raising is intended to finance a portfolio of 92 photovoltaic solar power plants, amounting to 73 million euros. Thus, out of a total capacity of 73 MWp :
- 68% of the plants will be located in the northern half of the country. This is a strong indication that self-consumption is no longer solely dependent on sunlight but increasingly linked to electricity prices.
- 70% will be installed as solar shades, in response to the obligation to solarize parking lots in the retail and large business sectors, in accordance with the French Renewable Energy Act.
- 75% are related to Large Enterprises in Commerce and Industry.
- Some 5,260 tonnes of CO2 per year will be avoided thanks to our clients' commitment. The goal of zero greenhouse gas emissions by 2050 is ambitious, but French companies are mobilizing, and this operation is proof of that.
Romain Butte, General Manager of GreenYellow France comments: "Following the 100% acquisition of Reservoir Sun at the end of 2023, we are delighted to have successfully concluded this new financing. This operation reflects the renewed trust of our banking partners. With 70% of the portfolio consisting of self-consumption power plants, GreenYellow reinforces its leadership in this field, marking the beginning of a new era for solar self-consumption in France."
" We are very pleased to be the leading player in self-consumption within GreenYellow and to actively participate in changing the paradigm regarding the financing of such projects. We are proud of the trusted relationship developed with our banking partners in these financing operations. The speed with which we finalize our transactions demonstrates our experience and professionalism in the field, "adds Mathieu Cambet, Director of Distributed Solar - GreenYellow France.
"We are proud to support GreenYellow and its entity, Reservoir Sun, alongside Caisse d'Epargne Ile-de-France and Caisse d'Epargne CEPAC, in accelerating its solar project development plan with a self-consumption focus. This operation perfectly illustrates our ability to intervene in complex assets such as decentralized solar power, and to support market evolutions accelerating the environmental and ecological transition of businesses," complements 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, firmly focused on self-consumption, strengthens the sustainable partnership established with Reservoir Sun by Greenyellow. It demonstrates our ability to support our clients over the long term on innovative topics. The Caisse d'Epargne thus lends its support to the deployment of self-consumption in France and actively contributes to the energy transition", emphasizes Frédérique DELFRAYSSI, Head of the Renewable Energy 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 financing this large-scale portfolio, 70% of which consists of self-consumption solar power 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
Advice: BCLP, 3E, Marsh, H3P
Borrower: Reservoir Sun by GreenYellow
Consulting: DGFLA, Ester
