GreenYellow locks funding for 32 MWp of French solar schemes

French renewables business GreenYellow has obtained EUR 31 million (USD 33.2m) to support the construction of 55 solar parks in mainland France and French overseas territories totalling 32 MWp.

The fresh capital was provided by French regional bank Caisse d'Epargne CEPAC and Natixis, GreenYellow said recently. It added that the debt will be extended under a tailor-made model and will be provided in three tranches.

The portfolio that will benefit from the proceeds includes rooftop and carport projects in the French mainland and three overseas territories, namely Guadeloupe, Martinique (West Indies) and French Guiana. All plants, among which is a 2.2-MWp self-consumption solar installation, are due to be commissioned by the end of 2024. Their combined annual output is estimated to be enough to meet the demand of around 10,000 homes.

The individual capacities of the PV arrays will range between 100 kWp and 11 MWp.

The generated electricity is planned to be sold under four types of off-take contracts, some secured in tenders by the French Energy Regulatory Commission (CRE).

(EUR 1.0 = USD 1.071)

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