Albioma Signs EUR 110 Million Financing Agreement for the Indian Ocean

Paris, France - Albioma Solar Réunion carried out the refinancing of the portfolio of photovoltaic projects in the Indian Ocean and established credit facilities to finance the Group's new projects in the same area for the next 18 months.

According to Albomia, the financing, amounting to nearly €110 million, will enable the Albioma Group to optimise the financing of its existing projects and to extend the maturity of the current debt while securing the future financing of projects won under recent invitations to tender launched by the French Energy Regulatory Commission (Commission de Régulation de l'Énergie - CRE) or under feed-in tariffs.

This innovative financing, of a portfolio combining several distinct projects, secures the Group's growth over the next few years in the photovoltaic business in the Indian Ocean region under very attractive conditions.

The operation is carried out with Caisse d'Épargne CEPAC as lead arranger. Bpifrance and BRED took part in the transaction. Natixis is the only hedging bank for the transaction.

As Albioma points out, the company is the leading generator of photovoltaic power in Overseas France where it develops and operates innovative projects with integrated storage capabilities. Recently, the Group announced the construction of 51 photovoltaic installations on the roofs of the SHLMR (low-income housing rental company on Reunion Island), with a total capacity of 4.8 MWp.

Source: IWR Online, 16 May 2018