Historic financing, following on from the success of GreenYellow and Reservoir Sun
This transaction, for a total of over 73 million euros, follows on from four major financing operations carried out by Reservoir Sun over the last three years, prior to its 100% acquisition by GreenYellow at the end of 2023. Bpifrance, Caisse d'Epargne Ile-de-France and Caisse d'Epargne CEPAC have thus renewed their confidence in GreenYellow. This confidence reflects the company's expertise and ability to manage complex projects, as well as the attractiveness of self-consumption projects for banks.
This large-scale financing comes on the heels of a number of major successes for GreenYellow, notably in the industrial and retail sectors. In November 2023, its Reservoir Sun entity inaugurated a 4.8 MWp self-consumption shading project on the Safran Nacelles production site, to cover more than 25% of the site's electricity needs. In the same period, the company also inaugurated its largest self-consumption power plant in the Hauts-de-France region, as part of a long-term contract with the L'Oréal plant in Caudry, which now covers 10% of the site's electricity needs and produces 1.2 GWh of low-carbon electricity each year.
Major retailers such as Cora and Métro have also put their trust in Reservoir Sun for self-consumption solar shading projects on their sites.
A transaction to finance a portfolio of 70% self-consumption solar power plants
The purpose of GreenYellow ‘s debt issue is to finance a portfolio of 92 solar photovoltaic power plants, for a total of €73 million. Out of a total capacity of 73 MWp :
- 68% of the plants will be located in the northern half of France. This is a strong sign that self-consumption is no longer just a question of sunshine, but is increasingly linked to electricity prices.
- 70% will be installed as solar shading systems, in response to the compulsory solarization of parking lots in the retail and large business sectors, in accordance with the French Renewable Energy Act.
- 75% concern large companies in commerce and industry.
- Some 5,260 tonnes ofCO2 per year will be avoided thanks to the commitment of our clients, the goal of zero greenhouse gas emissions by 2050 is an ambitious one, but French companies are getting involved, and this operation is proof of that.
Romain Butte, Managing Director GreenYellow France, comments: “Following the acquisition of 100% of Reservoir Sun at the end of 2023, we are delighted to have successfully concluded this new financing. This transaction testifies to the renewed confidence of our banking partners. With 70% of the portfolio made up of self-consumption plants, GreenYellow strengthens its leadership in this field, marking the start of a new era for solar self-consumption in France. “
“ We are delighted to be part of GreenYellow, the leading player in self-consumption, and to play an active part in the paradigm shift in terms of financing such projects. We're proud of the relationship of trust we've developed with our banking partners as part of our financing operations. The speed with which we sign our deals demonstrates our experience and professionalism in this field. ” adds Mathieu Cambet, Director of Decentralized Solar – GreenYellow France
” We are proud to support GreenYellow and its Reservoir Sun entity, alongside Caisse d'Epargne Ile-de-France and Caisse d'Epargne CEPAC, in accelerating its development plan for predominantly self-consumption solar projects. This operation is a perfect illustration of our ability to intervene in complex assets such as decentralized solar power, and to support market developments that accelerate the environmental and ecological transition of businesses “, adds Jérôme Blot, Head of the Energy and Environment Department, Bpifrance.
” The Caisse d'Epargne Ile-de-France is delighted to support Reservoir Sun by Greenyellow in the financing of a new photovoltaic project. This operation, resolutely oriented towards self-consumption, reinforces the long-term partnership that has been established with Reservoir Sun by Greenyellow. It demonstrates our ability to support our clients customers over the long term in innovative projects. The Caisse d'Epargne is thus supporting the deployment of self-consumption in France, and making an active contribution to the energy transition “, emphasizes Frédérique DELFRAYSSI, Head of the RE Project Financing Department – Caisse d'Epargne Ile-de-France.
Jérémy Estrader, Deputy Managing Director in charge of BDR at Caisse d'Epargne CEPAC, adds: “We are delighted to support Reservoir Sun by Greenyellow in financing this large-scale portfolio, 70% of which consists of self-consumption solar power plants. Through this transaction, Caisse d'Epargne CEPAC reaffirms its support for the development of renewable energies and its commitment to the energy transition.”
