The French portfolio of distributed solar has secured EUR 73m in funding, thanks to GreenYellow

French renewable energy company GreenYellow, through its subsidiary Reservoir Sun, has secured financing of over EUR 73 million (USD 80m) to fund the development and construction of a portfolio of distributed solar in France.

The portfolio consists of 92 photovoltaic (PV) solar power plants with a total capacity of 73 MWp.

The debt financing was obtained from Bpifrance, Caisse d'Epargne Ile-de-France and Caisse d'Epargne CEPAC. The transaction follows GreenYellow’s acquisition of 100% of Reservoir Sun at the end of 2023.

A large part of the profolio, 70%, is focused on self-consumption. The same share of the overall capacity will be installed as solar shades in response to the requirement to solarise parking lots in France in the retail and large business sectors. A portion of 75% is related to large enterprises in commerce and industry, while 68% of the projects will be located in the northern part of the country in a sign that self-consumption is increasingly linked to electricity prices.

According to the announcement, the financing deal shows the appeal of decentralised solar energy to both businesses and banks.