Apex Energies, an independent renewable energy power producer, announced the closing of over €350 million (~$366.93 million) senior debt financing for the development of solar project portfolio in France.
Caisse d’Epargne Ile de France co-arranged the financing and acted as senior mandated lead arranger, Crédit Agricole Transitions & Energies acted as mandated lead arranger accompanied by its partner banks, and Crédit Agricole du Languedoc, Bpifrance, Caisse d’Epargne Midi-Pyrénées, Caisse d’Epargne Aquitaine Poitou Charentes, and Caisse d’Epargne Languedoc Roussillon as arrangers.
The financing will support the construction and development of nearly 1,100 ground-based, rooftop, and shade solar projects totaling over 400 MWp, of which 250 MWp are already at an advanced stage of development and/or under construction.
The projects under development are situated across various metropolitan regions of the country and are expected to be built by the end of 2027. The portfolio comprises all types of installations, including ground-mounted agricultural sheds and shade houses, for sale to the grid and self-consumption.
Monte-Cristo Advisory acted as the financial advisor, Energie Legal Interest served as the legal advisor, and Altus Group acted as the interest rate hedging advisor on the transaction.
“We are very pleased to continue our support for the APEX ENERGIES group, a major player in the production of renewable energy in France. This operation, the group’s largest, demonstrates Bpifrance’s ability to support large-scale energy transition projects,” Emilie VIDAL, Regional Director for Occitanie Est at Bpifrance, commented.
Last year, the company raised more than €120 million (~$131 million) in senior debt financing to develop a solar project portfolio comprising 250 rooftop and shade projects totaling 70 MWp in France.
According to Mercom’s Annual and Q4 2024 Solar Funding and M&A report, large-scale project funding in 2024 increased 21% year-over-year.
Earlier this month, Bluefield Solar, a U.K.-based income fund specializing in acquiring and managing solar energy assets, completed a £300 million (~$380 million) refinancing as part of its portfolio management for 359 MW of solar projects.
