TSE, a French solar developer specializing in agrivoltaics projects, secured a bond debt funding of €65 million (~$68.5 million) from the Eiffel Investment Group Fund.
The funding was carried out through the group’s energy transition infrastructure debt funds, Eiffel Energy Transition III and the FCPRs MAIF Rendement Vert, Allianz Transition Energétique, and Eiffel Infrastructures Vertes. The debt funding will enable TSE to develop and construct new solar projects with a combined capacity of 800 MW. Astris Finance advised TSE as financial advisor and Gibson Dunn as legal advisor. Eiffel Investment Group was advised by Clifford Chance as legal counsel.
“The success of this transaction allows TSE to acquire a financing structure adapted to its growth plan and testifies to the confidence of investors in the solidity of its model. It also makes it possible to place our CSR ambition at the heart of our financing strategy,” TSE’s chief executive Jean-Edouard Allard said.
In 2021, TSE inaugurated the Marville photovoltaic power plant, which it claims is the second-largest power plant in France. In 2023, the company raised €130 million (~$137 million) in equity investment from Eurazeo, Credit Agricole, and Bpifrance.
According to Mercom’s 9M and Q3 2024 Solar Funding and M&A report, large-scale project funding in 9M 2024 totaled $34.3 billion in 180 deals, up from $27.5 billion in 169 deals in 9M 2023.
AMPYR Solar Europe, a solar project developer, announced the closing of an up to £200 million (~$253.33 million) project finance facility with NORD/LB, a German-based commercial bank, to develop and construct a 400 MW solar project in the U.K. Clifford Chance served as a legal advisor to AMPYR Solar Europe and White & Case represented NORD/LB on the transaction.
