This brings the total since December to almost 300MW of solar capacity in operation or under development. Significantly, the deals involve 264MW of ground-mount solar projects, demonstrating continued interest in utility-scale French solar projects. It follows in the wake of a mixed-project auction which awarded all 200MW to large-scale PV projects in November, and a major solar auction which awarded 855MW of capacity this February.
The deals included:
Sale by FPCI SOLARCAP of a 51.7MW solar portfolio to Tenergie. Augusta acted as exclusive financial advisor to the fund manager, 123 Investment Managers.
Sale by SUSI Sustainable Energy of 85 percent of Third Step, a 38.6 MW solar portfolio, to Société Anonyme Monégasque Monaco Energies Renouvelables (M.E.R). Augusta acted as exclusive financial advisor to SUSI Partners.
Sale of a 500 MW development pipeline of onshore wind and solar based in Southern France to an asset management company, including a 200MW solar porfolio.
“France is clearly one of Europe’s solar hotspots, and these sales reflect a thriving solar market both for operating assets as well as new development” said James Knight, Partner, Augusta & Co. “Southern France in particular demonstrates a lot of potential for solar, and we expect to see more such deals over the coming few months. It is particularly interesting to have played a role in the sale to Monaco Energies Renouvelables (MER), which represents the state’s first step towards its goal of producing green electricity equivalent to domestic consumption.”
Augusta has a long track record of developer sales in the French renewables market, having carried out successful sales including of Velocita to Envision in 2016 and Epuron to ERG in 2018.
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