Q ENERGY secures EUR109mn to finance four renewable projects in France

Q ENERGY France secures a EUR109mn loan from BPCE Energeco for the construction of two wind farms and two solar power plants with a combined capacity of 55 MW.

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Q ENERGY France has obtained financing of EUR109mn ($118mn) from BPCE Energeco to develop four new renewable energy projects, including two wind farms and two solar power plants. The transaction, completed in December, will allow for the construction of installations with a total capacity of 55 MW. The funds were allocated as long-term bank credit, provided by the relevant project companies, to cover all construction costs.

Structuring and partners involved in the transaction

The financing arrangement was managed by BPCE Energeco, which will also coordinate the syndication with other banking institutions. Advisors involved include De Gaulle Fleurance & Associés for legal documentation, Jeantet for legal due diligence, Synéria for technical due diligence, Marsh for insurance, and Aurora for market pricing verification. On the Q ENERGY side, legal documentation was handled by Linklaters and financial advisory by Tevali Partners. The financed projects have not been publicly identified by name at this stage, nor has there been a detailed breakdown of their respective capacities.

Strong financing momentum in 2024

Throughout 2024, Q ENERGY France will have raised over EUR159mn ($172mn) through non-recourse project financing. Among these transactions is a financing exceeding EUR50mn ($54mn) obtained in April for the construction of the largest floating solar power plant in Europe. All plants financed in 2024 were acquired in the first quarter of 2025 by Velto Renewable, while Q ENERGY continues to act as EPC contractor (engineering, procurement, and construction) and asset manager on these projects.

Outlook for the coming year

The management of Q ENERGY France plans to build on the momentum generated in 2024 to structure new financing for a significant portfolio of projects in 2025. The use of long-term financing, supported by specialised partners and a network of experts, is at the heart of the company’s development strategy in the French renewable energy market.

The total amount of credit raised, together with the involvement of banking and technical partners, reflects the sector’s evolution towards the structuring of complex, multi-technology financing.

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