VALOREM and SOCIETE GENERALE, a successful partnership leading to the financing of 180 MW wind energy projects over 36 months – 350 million euros investment

22 January 2019

VALOREM is pleased to announce financial close of the following wind farms: ABLAINCOURT (36 MW, NORDEX N131) and REUILLY (21.6 MW, NORDEX N117). These two closings are part of a “repeat deal” process ongoing for 36 months with SOCIETE GENERALE, which has enabled the industrialization of the financing process for 180 MW on-shore wind projects, in metropolitan France, developed by VALOREM.

 

The projects, spread among fourteen SPVs (eleven owned by VALOREM and three on behalf of OMNES CAPITAL, through a co-development agreement), represent a total investment of 350 million euros, financed with 280 million euros long-term loans. The project portfolio presents a homogeneous geographical distribution and a wide range of Tier 1 wind turbines manufacturers (VESTAS, GAMESA, SENVION, NORDEX-ACCIONA). It will provide an annual energy production of 542 GWh (P50), equivalent to 3000 full load hours on average. This has enabled VALOREM to increase its installed capacity to 400 MW by 2019 and to sustain its independent model. VALOREM targets to own and operate 1 GW by 2023.

 

The debt arrangement was entirely underwritten by SOCIETE GENERALE. LA BANQUE POSTALE, BPI and TRIODOS participated in the syndication alongside the European Investment Bank (EIB). VALOREM and SOCIETE GENERALE also thank the advisors that led to the success of these transactions: WATSON FARLEY & WILLIAMS – Lenders legal advisor, Legal Due diligence and Documentation, NATURAL POWER – Lenders Technical Advisor, MARSH – Insurances Due diligence, NOVEO FINANCE – Financial coverage for VALOREM, FIDAL – VALOREM Legal Advisor.

 

About VALOREM

As a green energy operator, the VALOREM group controls the entire process of developing renewable energies, from development to operation, including assistance with project management, construction and auditing. A pioneer of wind power in France and with more than 220 employees, VALOREM is also present in France, the Caribbean and Northern Europe. Since 2014, VALOREM is certified ISO 9001: 2015 and ISO 14001: 2015, and since 2017, OHSAS: 18001. More information on www.valorem-energie.com

 

List of SPV FINANCED

2016 : NEUILLY ENERGIES (OMNES – 10 MW), MONNES ENERGIES (OMNES – 6MW), SANTERRE ENERGIES (20 MW), SOULANES ENERGIES (VALOREM 20% – 10 MW), ALBINE ENERGIES (6 MW), CHALEONS ENERGIES (6,15 MW), AUNIS ENERGIES (13,5 MW) / 2017 : TEILLAY ENERGIES (8 MW) / 2018 : ANGERVILLE ENERGIES (8,8 MW), LES POINTES ENERGIES (11 MW), AZERABLES ENERGIES (13,2 MW), SAINT SEBASTIEN ENERGIES (8,8 MW), ABLAINCOURT ENERGIES (36 MW), REUILLY ET DIOU ENERGIES (OMNES – 21,6 MW)