Rubis Photosol Secures EUR 60 Million for 67-MW French Solar Portfolio
- Rubis Photosol secures EUR 60 million loan from Bpifrance, BRED Banque Populaire and CIC for 8 solar projects, ranging 2MW-20MW. Two projects in Bellac and Mainzac will supply energy to Leroy Merlin. Construction underway, with Rubis Photosol managing operations and maintenance.
Rubis Photosol, an independent power producer in France, has secured a loan of EUR 60 million from three French banks- Bpifrance, BRED Banque Populaire and Credit Industriel et Commercial. This loan will be utilized for the construction of a 67 MW portfolio of eight solar projects ranging from 2MW to 20 MW in the municipalities of Bellac, Mainzac, Belves 1, Belves 2, Marillac 1, Marillac 2, La Rochefoucauld and Pranzac. Two of these projects in Bellac and Mainzac will benefit from power purchase agreements signed with gardening retailer Leroy Merlin. Rubis Photosol is the developer and the owner of the portfolio which is currently under construction and will be responsible for operation and maintenance of the solar farms once they are online.
What Banks Funded Rubis Photosol's 67-MW Solar Portfolio?
- Bpifrance provided EUR 25 million for the loan.
- BRED Banque Populaire provided EUR 23.5 million.
- Credit Industriel et Commercial provided EUR 11.5 million.
- The loan is being utilized for the construction of a 67 MW portfolio of eight solar projects ranging from 2 MW to 20 MW.
- Two of these projects in Bellac and Mainzac will benefit from power purchase agreements signed with gardening retailer Leroy Merlin.
- Rubis Photosol is the developer and the owner of the portfolio and is responsible for operation and maintenance of the solar farms once they are online.