Dhamma Energy secures funds for 87.5-MWp French solar project

Dhamma Energy Solar Park in France

February 11 (Renewables Now) - Madrid-based solar developer Dhamma Energy has bagged long-term funding for the 87.5-MWp Athies-Samoussy project in the Hauts-de-France region of northern France.

The financing was arranged by local lender Caisse d’Epargne CEPAC, which served as sole arranger, agent and account bank. It worked with Bpifrance, as the lender, and Natixis as the sole hedging bank.

“This financing has been structured to allow Dhamma Energy to best benefit from the favourable liquidity that the European Investment Bank offers the French renewable energy sector and will also allow Dhamma Energy to benefit from a truly optimized financing cost,” said Didier Moate and Amaury Schoenauer, respectively member of the board and head of Structured Financing at Caisse d’Epargne CEPAC.

The particular project is also supported through crowdfunding after collecting EUR 1.1 million (USD 1.2m) via the Lendosphere platform last July. In addition, it is backed by mixed companies SEM Somme Energy and SEM Energies Hauts-de-France, as well as private group Maison Melan Moutet.

Dhamma Energy won the Athies-Samoussy project in an auction held in 2018. Grupo Ortiz is currently building the five solar parks that make up the project at the former Laon-Athies NATO Air Base. The solar complex is seen to be finalised over the next 12 months.

(EUR 1.0 = USD 1.092)

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