GreenYellow Spearheads Major Solar Self-Consumption Project in France with €73 Million Financing

GreenYellow, in collaboration with its subsidiary Reservoir Sun, has successfully secured a significant financial deal for the development and construction of 92 solar photovoltaic power plants across France. The ambitious project, partnered with Bpifrance, Caisse d’Epargne Ile-de-France, and Caisse d’Epargne CEPAC, amounts to a total of €73 million and aims to bolster France’s capacity for solar self-consumption with a combined power output of 73 MWp.

Marking a historic moment in financing for renewable energy in France, this operation underscores the growing interest in decentralized solar power among businesses and financial institutions. Notably, 70% of the funded projects will focus on self-consumption, highlighting a shift towards more sustainable energy usage within the commercial and industrial sectors.

This move is a continuation of GreenYellow’s successful track record, following its acquisition of 100% of Reservoir Sun at the end of 2023. The financing reflects the strong confidence of the banking partners in GreenYellow’s expertise in managing complex renewable energy projects, particularly those centered around self-consumption.

GreenYellow has previously demonstrated its capability with significant projects like the 4.8 MWp self-consumption shading project for Safran Nacelles and the largest self-consumption power plant in the Hauts-de-France region for L’Oréal, amongst others. These projects have solidified GreenYellow’s position as a leader in the solar self-consumption sector.

The financed solar power plants will predominantly be located in the northern half of France, showing that the drive for self-consumption is not solely dependent on geographical sunshine availability but also motivated by electricity cost considerations. The majority of these plants will serve as solar shading systems, aligning with the French Renewable Energy Act’s mandates and contributing to the national goal of achieving zero greenhouse gas emissions by 2050. This initiative is set to prevent approximately 5,260 tonnes of CO2 emissions annually, reinforcing the commitment of French companies to environmental sustainability.