Macquarie Asset Management (Macquarie), on behalf of its institutional clients and managed funds, has provided a €350 million financing facility to CVE, acting as sole lender and underwriter.
Building on its integrated operating model, CVE develops, finances, constructs, operates, and manages solar assets across the value chain. Its approach enables an optimised performance of its assets, incorporates new flexibility mechanisms, and offers its customers competitive energy tailored to their needs. The financing supports the company's strategy to continue expanding a diversified and resilient portfolio of renewable energy assets and deliver long-term value for its customers.
The financing will support the build-out and continued growth of CVE's solar business across France and internationally, building on a portfolio of more than 1GW of peak solar capacity currently in operation and under construction. It will also help enhance CVE's financial flexibility and strengthen its capacity to invest in future growth opportunities.
Thibault Sauvage, Managing Director, Macquarie Asset Management, said: "We are pleased to provide CVE with a tailored financing solution to support its ambitious growth plans. The financing will simplify the company's capital structure, support its ability to scale, and enable the continued build-out of assets advancing the energy transition."
Kamil Beffa, Chief Executive of CVE, said: "This transaction marks a new stage in CVE's development. It sustainably strengthens the Group's financial solidity and gives us the means to continue executing our roadmap with the discipline, high standards, and long-term vision that have guided our development for over sixteen years."
Marion Henriet, Deputy Chief Executive of CVE, said: "Market conditions are changing rapidly and require producers to combine industrial excellence, financial discipline, and the capacity for innovation. This transaction strengthens our investment capacity and enables us to pursue our strategy with rigour, by developing a high-performing portfolio of assets that creates long-term value."
