De Gaulle Fleurance advises Crédit Agricole Transitions & Energies and Bpifrance in the financing of Europe’s largest floating solar project

De Gaulle Fleurance advised Crédit Agricole Transitions & Energies and Bpifrance on the ‘Les Ilots Blandin’ project, the largest floating solar project in Europe.

This major project, located in the Haute-Marne département, has secured total financing of €50.4 million, including €44 million in senior debt provided by Bpifrance and Crédit Agricole-Unifergie. With a capacity of 74.3 MW, Q Energy’s floating solar power plant will cover 127 hectares of former gravel pits belonging to Établissements Blandin. The project, which is currently under way, is being carried out in partnership with SOLUTIONS 30 GROUP, Ciel & Terre International and PerPetum Energy. Once operational, it will become a model of technological innovation and clean electricity production in Europe.

The lenders were advised in the negotiation of the financing documentation by Sylvie Perrin and Jonathan Souffir, partners at De Gaulle Fleurance.

“This ambitious and innovative project should open the way for the financing of other floating solar projects, which are an alternative to land-based projects,” explain Sylvie Perrin and Jonathan Souffir, partners at De Gaulle Fleurance.

Other advisors for lenders included:

Legal (audit) : Jeantet

Technical: Syneria

Insurance: Marsh

Financial model: Finance Consult

Electricity market prices: Aurora Energy Research

Market indices: Ernst & Young Consulting Services

The borrower’s advisors were :

Legal (documentation) : Jeantet

Financial: Tevali Partners

Interest rate: Noveo Finance.

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