Technique Solaire protects EUR 25m, eyes 1-GW solar portfolio by 2024

• Technique Solaire Group today stated it has protected EUR 25 million (USD 29.3 m) from existing shareholders Bpifrance and also the Credit Agricole Group, as the firm targets getting to 1 GWp of functional solar capability by the end of 2024.

The financial investment from investment financial institution Bpifrance, with its fund FIEE, and Credit Agricole de la Touraine et du Poitou, came after in May the business acquired EUR 111 million in elderly debt for the refinancing as well as funding of its photovoltaic (PV) projects in France. The business's founders and also its staff members will certainly maintain a large bulk stake in Technique Solaire.

Revealing its objective for 2024, Technique Solaire stated it presently has 170 MWp of solar in operation and incomplete, including 141 MWp in France and 29 MWp in India.

In addition, the company prepares to operate 18 MW of biogas capability by the end of 2024 through its device Technique Biogaz. The subsidiary currently operates the Celles-sur-Belle methanisation system, which was switched on in September 2019 and has a capability of nearly 1 MW.

The firm intends to attain its targets mainly through natural growth, however will certainly likewise get projects in advancement or in operation in France as well as abroad. To fund its projects, Technique Solaire will require to protect EUR 830 million in financing of different kinds.