FRANCE: JP Energie Environnement raises debt for 21.6 MW onshore wind project, BESS plans emerge
Developer and IPP JP Energie Environnement (JPEE) has reached financial close for a 21.6 MW onshore wind project in the Centre-Val de Loire region of France.
The group raised circa EUR 20m in 20-year senior debt from BPCE to complete the deal for the Loiret department-located Tivernon wind farm in mid-July, it is understood.
The scheme is already under construction, will comprise six 3.6 MW Vestas turbines and is due online in 2025. Once commissioned, it will receive a 20-year CfD at a price between EUR 80/MWh - EUR 85/MWh secured in one of France’s recent renewable energy auctions.
JPEE is understood to have secured senior debt at an all-in cost of just over 4%, with margins in the region of 130bps plus Euribor.
JPEE has to date brought into operation around 450 MW of onshore wind and solar PV capacity across France, and will take this to around 550 MW by the end of 2024. Its project pipeline stands at over 2 GW.
It is working toward financial close for a similarly-sized circa 20 MW onshore wind project in late 2024 and will also look to finance a 40 MW solar PV portfolio at around the same time.
The company at the end of April announced that it had secured a long-term PPA with SocGen for the output from a 55 MWp solar project in Arpheuilles. The project is due online this year but will start providing power to the financial institution in 2026.
It has also in recent quarters signed PPAs with Orano and the Credit Agricole group.
In addition to its wind and solar activities, JPEE is bringing forward a 40 MW / 80 MWh BESS project portfolio in France spread across four projects, two of which have already secured consents.
It is understood to be in ongoing talks to bring in a co-investor to help take the projects through construction and into operation.
*This story was originally published exclusively for NPM Europe subscribers.
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