CCE Secures Rgreen Funding for 400-MW Solar Portfolio

Austrian-German solar installer and operator CCE Holding has obtained EUR 50 million in debt financing to bankroll the construction of over 400 MW of photovoltaic (PV) projects during the current year.

The Vienna-based company received a EUR-50-million (USD 53.3m) loan from French independent asset manager Rgreen Invest. According to a press statement, the funding was extended through the latter’s short-term senior debt fund Infrabridge III.

"2024 will be a very dynamic year for CCE, as we plan the construction start of projects with a total output of over 400 MW,” said CCE's CEOs Martin Durnberger and Jorg Menyesch.

For Rgreen Invest, the financing transaction marks a close for the Infrabridge III fund and a step towards accelerating the financing for energy transition projects in line with the European renewable energy targets. Among the French group’s most recent investments is a co-financing deal for a 24-MW solar portfolio in Spain by a unit of France’s CVE Group. Its joint venture with Echosys Advisory last December inked a credit agreement to fund WATT Renewables’ plan to build solar hybrid power plants in Nigeria.