Voltalia Secures First Corporate PPA for Large Scale Solar in France

French renewables developer Voltalia has announced that it has secured a 25-year corporate PPA for energy generated by a 5 MW solar facility with French retailer Boulanger the off-taker.

Voltalia believed it is the first PPA between a power producer and big private energy consumer in France. Although several deals of a similar kind have been announced in recent months, the Voltalia contract is the only bilateral PPA to have been signed in France to date.

The developer has not divulged the price at which Boulanger will buy electricity from its facility, which is projected to be grid connected in 2022, but said the retailer had committed through an exclusive partnership agreement to prioritize buying power from wind and solar plants to be developed by Voltalia.

Voltalia also announced  that it had secured a €100 million credit facility from 12 lenders. The financing – a €55 million credit line and €45 million long-term loan – was arranged by French corporate and investment bank Natixis.

Voltalia says the arrangement is the first green, sustainable syndicated loan for a European independent power producer. Both credit facilities have a maturity of five years, which may be extended to seven.

Solar PV | News published on 23/05/2019 by Moulin

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