TSE, a solar project developer, announced the closing of €100 million (~$102.7 million) in project financing from Crédit Agricole Transitions & Energies (CA T&E) and the Caisse d’Epargne CEPAC. The round brings the company’s total funding raised in 2024 to €220 million (~$229 million). The deals were completed in December 2024.
The funding will support the construction and operation of seven ground-mounted solar projects totaling 120 MW. These projects are located across several sites in France, including Ardennes, Seine-Maritime, Cher, Nord, and Loiret.
The timeline for the construction and commissioning of the projects was not disclosed. The company plans to expand its portfolio of projects under construction and operation from 300 MW at the end of 2024 to 1 GW by the end of 2027.
“Thanks to the commitment of our teams, the support of our financial partners, the industrialization of our processes and our forward-looking strategy, we are consolidating our position as a benchmark player, both in terms of quality and innovation and now in terms of the quantity of projects developed, making TSE a leading player in renewable energy in France. These results will enable us to continue to innovate and support local and regional authorities as they move towards a low-carbon future. I would like to thank the Caisse d’Epargne CEPAC, Crédit Agricole Transitions & Energies and Eiffel Investment Group for their confidence and their commitment to us,” said Mathieu Debonnet, President of TSE.
According to Mercom’s recently released Annual and Q4 2024 Solar Funding and M&A report, large-scale project funding deals in 2024 totaled $53.8 billion in 259 deals, up from $44.5 billion raised in 229 deals in 2023.
In December 2024, TSE secured bond debt funding of €65 million (~$68.5 million) from the Eiffel Investment Group Fund. The debt funding will enable TSE to develop and construct new solar projects with a combined capacity of 800 MW.
