Q ENERGY raises €109 million from BPCE Energeco for renewable projects

Q ENERGY France has finalised a financial operation totalling €109 million in long-term bank loans to support the construction of two wind farms and two solar plants. The transaction, arranged and syndicated by BPCE Energeco, will increase Q ENERGY France’s renewable energy production capacities by 55 megawatts (MW). This financing, directly carried by the associated project companies, confirms the close collaboration between the two entities, already partners in several operations. This new project is part of a broader dynamic of structured investments in the French energy sector.

Secured funding and future outlook

This transaction brings the total amount financed by Q ENERGY France in non-recourse credits during 2024 to more than €159 million. An initial financing of €50 million had already enabled, in April, the establishment of a floating solar plant presented as the largest in Europe. Following this second transaction, the five plants funded over the previous year were acquired by Velto Renewable at the beginning of the first quarter of 2025. However, Q ENERGY France remains actively involved as EPC (Engineering, Procurement and Construction) contractor and Asset Manager.

With several new projects already scheduled, Q ENERGY France plans to maintain this momentum by initiating similar new transactions during 2025. The company anticipates increased support from banks and sector investors to secure future financing.

Advisors involved in the transaction

Various specialised firms advised both parties in this transaction. BPCE Energeco notably received legal counsel from De Gaulle Fleurance & Associés, while legal audits were carried out by Jeantet. Synéria was responsible for the technical audit, and Marsh advised on insurance aspects. Aurora performed the necessary market analyses for the transaction.

For its part, Q ENERGY France enlisted Linklaters for legal documentation matters. Tevali Partners provided financial advice to the borrower, bringing expertise on the economic terms of the financing.

Statements from involved parties

Sébastien Rondel, Head of France Equity & PF Department at Q ENERGY France, stated: “This financing reflects our ability to mobilise our banking partners, who once again trust Q ENERGY’s experienced teams and the quality of our projects to meet energy transition objectives.”

Grégory Faillenet, Managing Director of BPCE Energeco, said: “BPCE Energeco is pleased to support Q ENERGY’s deployment on French territory. This new large-scale, multi-technology financing demonstrates BPCE Energeco’s strong capacity to support its clients and their investments aimed at facilitating energy transition.”