GreenYellow Secures €13M Financing for 26-MW Solar Acquisitions in France

French renewable energy company GreenYellow has successfully secured EUR 13 million (USD 14 million) in mezzanine financing to fund the acquisition of 26 MWp in solar energy projects across mainland France and select overseas territories.

The funding, provided by Zencap Asset Management, the private debt arm of OFI Invest Group, will support GreenYellow’s commitment to expanding solar power capacity in the French market.

This financing covers three separate acquisitions of photovoltaic (PV) portfolios, a process that began at the close of 2023 and continued into early 2024. The newly acquired assets include both rooftop solar installations and agrivoltaic systems located throughout mainland France as well as in the overseas regions of Mayotte and Reunion Island. Together, these solar systems are expected to generate more than 30 GWh of clean electricity annually, underscoring GreenYellow’s contribution to renewable energy generation.

GreenYellow’s latest investments strengthen its role as a leading owner and operator of solar and energy efficiency assets in France. As of June 2024, the company had 1.6 GWp of solar capacity in its portfolio, which encompasses both operational and under-construction projects.

“Our recent acquisitions are a testament to our dedication to renewable energy and our strategic focus on expanding solar power in France,” GreenYellow stated. “We are proud to be growing our footprint, and this funding from Zencap Asset Management enables us to accelerate our efforts in delivering sustainable energy solutions.”