The system provider GreenYellow is developing a total of 92 large photovoltaic systems with a total output of 73 megawatts through its subsidiary Reservoir Sun in France. Nearly 70 percent of these commercial solar arrays are designed for self-consumption.
According to the company, the projects are backed by a total investment of 73 million euros. Financing has been secured from Bpifrance and the regional co-operative banks Caisse d'Epargne Ile-de-France and Caisse d'Epargne CEPAC.
Solar canopies for car parks
Of the new systems, 75 percent are being installed on industrial and commercial sites, while a total of 70 percent are planned as solar canopies over the car parks of retailers and large companies. These firms are meeting their legal obligation to use car parks for renewable energy, as mandated by French law.
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Self-consumption due to high electricity prices
Not only companies in the sunny south of France are turning to solar energy for self-consumption. In fact, 68 percent of the new installations are being built in the northern half of the country. According to GreenYellow, this clearly shows that solar self-consumption in industry and commerce is no longer driven solely by high levels of solar radiation, but increasingly by electricity prices.
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“With 70 percent of the portfolio consisting of self-consumption power plants, this marks the beginning of a new era for solar self-consumption in France,” says Romain Butte, General Manager of GreenYellow France. “We are delighted to have successfully concluded this new financing. The transaction reflects the renewed confidence of our banking partners.”
Intervene in complex assets
For Bpifrance, the focus on self-consumption in this project is also a new development. “We are proud to support GreenYellow and its subsidiary Reservoir Sun, alongside Caisse d’Epargne Ile-de-France and Caisse d’Epargne CEPAC, in accelerating its solar project development plan with a self-consumption focus,” says Jérôme Blot, Head of the Energy and Environment Department at Bpifrance. “This transaction perfectly illustrates our ability to support complex assets such as decentralised solar power, and to back market developments that drive the environmental and ecological transition of businesses,” he adds.
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Suppert of the self-consumtion by banks
Frédérique Delfrayssi, Head of the Renewable Energy Project Financing Department at Caisse d'Epargne Ile-de-France, comments on the project portfolio: “It demonstrates our ability to support our clients over the long term on innovative topics. The Caisse d'Epargne thus lends its support to the deployment of self-consumption in France and actively contributes to the energy transition.”
Jérémy Estrader, Deputy Managing Director in charge of BDR at Caisse d'Epargne CEPAC, adds: “Through this transaction, Caisse d'Epargne CEPAC reaffirms its support for the development of renewable energies and its commitment to the energy transition.” (su)
