France-based renewable energy project developer Technique Solaire has closed €25m ($29m) funding from investors including cooperative bank Credit Agricole and French state-owned investment bank BPIfrance.
Technique Solaire develops, builds and operates solar photovoltaic and biomethane energy projects in France and internationally, with an especially strong portfolio in India.
The company plans to use the funds to increase its portfolio of 170 MWp of solar power plants in operation to 1 GWp by 2024, and its biomethane plants from 1 MW today to 18 MW by the same point.
The latest funding comes after $122m debt financing in May this year from a banking consortium including Credit Agricole, and an undisclosed amount of equity funding from Credit Agricole and BPIfrance in 2017.
Lionel Temine, co-founder of Technique Solaire, said: “We are delighted to continue the adventure which began in 2017 with BPIfrance and the Credit Agricole Group.
“We have established a relationship based on trust and we share the desire to invest for the long term. This is a strong strategic choice, the aim of which is to retain control of the group, while giving us the financial resources to achieve our growth objectives.”
Photo courtesy of Technique Solaire Group.