Urbasolar signs a financing deal for €124 million and ramps up growth

Urbasolar signs a financing deal for €124 million and ramps up growth 5464 3640 urbasolar_edit

Montrouge, 7/23/2020Urbasolar has just connected its first 10 MW from 37 new photovoltaic power plants across 16 French départements. This project arranged by Crédit Agricole is one of the largest investments in new photovoltaic power plants in France.

The financing deal for a total of €124 million was signed at the end of December. It is for 37 photovoltaic plants to be built at sites mainly across the south of France. These plants will include ground and roof-mounted systems, photovoltaic greenhouses and parking canopies.
Overall, this represents a total capacity of 143 MW to be produced by these new installations, equating to the annual energy consumption of 65,000 homes.

Unifergie and Crédit Agricole Languedoc are sharing the debt with regional banks.

This new transaction signed with longstanding customer Unifergie, a subsidiary of Crédit Agricole Leasing & Factoring, forms an integral part of our Enterprise Project’s social commitments whose ultimate aim is to finance 1 in 3 renewables projects in France.

For Christine Delamarre, General Manager of Unifergie, a subsidiary of Crédit Agricole which specializes in financing energy projects and regional development, “We are proud to support Urbasolar once again in its development, thereby demonstrating Crédit Agricole Group’s commitment to financing regional projects for green growth. ”

Stéphanie Andrieu, General Manager of Urbasolar, said “We are really pleased with our collaboration with Unifergie as we confirm our group’s willingness to continue working with French national and regional banks“.

 

Photo Credit : M.Colin