In April 2021, Acofi Gestion closed EUR4 million in bridge loan and junior debt financing with ZE Energy Group via its Predirec EnR 2 loan fund. This is the first transaction for this fund in the innovative technology of hybrid solar power plants, combining photovoltaics and storage to address the challenges of intermittency and grid stability associated with renewable energy.
The Greenfin-labelled Predirec EnR 2 fund has a dual objective. On the one hand, it supports the full range of industrial contributors to the Energy Transition by providing them with flexible financing solutions and, on the other hand, the fund offers institutional investors a low-carbon investment strategy that allows them to participate in the fight against global warming.
This operation marks the beginning of a partnership with ZE Energy, an independent producer of renewable electricity that develops and operates hybrid photovoltaic power plants. Equipped with a battery to store the solar energy produced during the day, these new-generation solar power plants present every advantage in terms of production costs, integration with the environment and the grid, and the production of zero CO2 emissions.
The financing of ZE Energy demonstrates the ability of the Predirec EnR 2 fund to flexibly meet the diverse needs of new and dynamic developers. The bonds issued include a short-term financing component that allows the construction of hybrid power plants to move forward and strategic supplies to be secured ahead of bank closing. Thanks to the long-term junior debt component, ZE Energy will be able to optimise the allocation of its equity resources in order to focus on growth in France and internationally.
Matthieu Lassagne, President of ZE Energy, says: “Acofi Gestion’s support shows a commitment to supporting innovations that will meet the environmental challenges of today and tomorrow. Our smart power plants, several of which are currently under development, will help accelerate the development of photovoltaic energy, which is the most promising source of renewable energy.”
Philippe Garrel, Head of the Energy Transition business line at Acofi Gestion, says: “We are pleased to be moving ahead on our mission of financing Energy Transition players with an innovative developer such as ZE Energy, which offers intelligent solutions to the challenges of large-scale RE integration. This transaction also demonstrates the Predirec EnR 2 fund’s ability to position itself on projects that are complex, whether in terms of technology or revenue types, by once again leveraging its hybrid financing structures.”
