On 31 March, despite a complicated market environment, Amarenco, an independent photovoltaic energy producer, finalised the refinancing of a 12 MWp ground-based power plant in the region of Bordeaux with the Caisse d’Epargne CEPAC and BPI.
Providing the equivalent of the annual electricity consumption of 5,400 households, this solar power plant located in Bordeaux was commissioned in 2014. The ground-mounted plant is spread over 3 zones and covers a total of 35 hectares, the equivalent of 50 football pitches.
The €24m refinancing of this power plant was arranged by the Caisse d’Epargne CEPAC, with BPI participating as lender, thus demonstrating once again their confidence in Amarenco and its development model.
With the main objective of restructuring the bank debt carried by the solar power plant, this operation will also enable the Amarenco group to optimise the financing conditions of its assets and to release additional resources to finance the development of its activities.
For the first time, all the signature stages up to the conclusion of the sale have been carried out in a completely dematerialised manner, in order to avoid the current containment measures.
On the occasion of this operation, Charles Cadoux, Investment Director of Amarenco France, stated: “The mobilisation of all the players involved in this operation enabled us to finalise this refinancing despite the current context. We are very pleased to count CEPAC and BPI among our financial partners, alongside French and international banks. Their renewed confidence enables Amarenco to be a leading player in the energy transition“.
The actors of the operation are the following:
- Sponsor: LPA-CGR (legal); Green Cape Finance (finance); Ester Finance (interest rate hedging)
- Lenders: Bryan Cave Leighton Paisner (legal); Energie Legal (legal audit), Syneria (technical audit), ECA (insurance audit), Sigée Finance (financial model audit)