Greentech Lead Europe: Solairedirect closed a series of financings principally aimed at constructing 12 photovoltaic solar parks (9 in France, 1 in India, 2 in South Africa) for a total of 156 million euros.
This funding is termed as one of the largest fund raising globally for solar power projects. Of the 156 million, 60 million euros are offered in equity and 96 million euros in debt, the company said.
The closed transactions relate to the financing of 12 new solar parks, recently completed or under construction (99 MW for a total of 142 million euros) and the refinancing of solar parks currently in operation (14 million euros).
The new solar parks were developed as a result of tenders won by Solairedirect and/or feed-in tariffs at highly competitive levels, around 100 euros/MWh, a record for otherwise unsubsidized solar installations.
The financing further proves the growing competence of solar with other energy sources and the emergence on a large scale of an energy source which is at the same time clean, decentralized, affordable, quick to implement, universally available in nearly infinite quantities, and whose variability can be managed in smart grid architectures.
This is promising news both for developed countries engaged in energy transition processes and emerging countries with fast-growing energy needs, the company said. The investment also brings new hopes for the solar industry as a whole, which is challenged by numerous crises like oversupply and anti-dumping duties.