Q ENERGY, a solar, energy storage, and wind project developer, secured €50.4 million (~$55.68 million) in debt financing for the Les Ilots Blandin solar project development. The floating solar project spans over a former gravel pit in the Haute-Marne region of France and has a total capacity of 74.3 MW.
Crédit Agricole Transitions & Energies and Bpifrance have arranged the funding for the project.
The construction of the project is underway. The project will feature 134,649 solar modules mounted on floats. Pre-commissioning of the Les Ilots Blandin project is planned for the first quarter of 2025.
De Gaulle Fleurance & Associés, Jeantet, Synéria, Marsh, Finance Consult, Aurora, and Ernst & Young advised the lenders on this transaction. Jeantet, Tevali Partners, and Novéo Finance advised Q ENERGY.
“As a Climate Bank, Bpifrance is proud to contribute to the financing of the largest floating solar power plant in Europe. This project represents a major advancement and addresses the energy transition challenges of the future”, says Pascale Courcelle, Head of Real Estate, Energy and Environment Financing of Bpifrance.
In June 2024, Q ENERGY announced the sale of a 33 MW Whinfield Solar Project near Darlington in Northeast England to AlphaReal, an asset investment manager.
Mercom’s 1H and Q2 2024 Solar Funding and M&A report announced that large-scale project funding in 1H 2024 came to $19.9 billion in 117 deals compared to $14.9 billion in 113 deals in 1H 2023. This report underscores the growing investment and M&A activity in the solar energy sector.
Last month, Enfinity Global, a renewable energy project developer, announced the financial close of €500 million (~$558.73 million) to support the development and construction of around 1.5 GW of solar projects in Italy.
