French electricity producer elmy, specialised in renewable energy, has secured its first bank loan of €3.5mn ($3.71mn) from Caisse d’Epargne Rhône Alpes. This financing follows a participatory fundraising round completed in January and marks a step forward in the company’s solar project portfolio.
The loan will support the construction of 13 photovoltaic plants, including 10 rooftop and 3 ground-mounted facilities, with a total capacity of 3.6 megawatts-peak (MWp). These installations will be primarily located in the Auvergne-Rhône-Alpes and Occitanie regions. The Pont-de-l’Isère plant, in the Drôme department, has already been operational since January.
A project backed by citizen financing
Alongside the bank loan, elmy raised €600,000 ($636,000) from individuals through the Enerfip platform in just eight minutes. The company also contributed €200,000 ($212,000) in equity. The total amount mobilised therefore reaches €4.3mn ($4.59mn), according to the figures provided.
These funds will finance infrastructure on repurposed land, including industrial rooftops, car park canopies and degraded sites. Commissioning is scheduled in phases through to the end of 2026.
Regional banking partner strengthens local ties
Stéphane Cicolella, Chief Executive Officer of elmy, stated that this partnership with Caisse d’Epargne Rhône Alpes confirmed “the resilience of the business model” of the company. It is elmy’s first institutional bank financing, combining citizen and institutional capital to structure its projects.
Didier Bruno, Executive Board Member of Caisse d’Epargne Rhône Alpes in charge of Regional Development Banking, noted that this funding aligned with BPCE Group’s territorial development priorities.
Through this financial structure, elmy strengthens its strategy of involving local actors in the rollout of photovoltaic assets. The model makes it possible to diversify funding sources while ensuring local anchoring of the energy infrastructure.
