BayWa r.e., a leading global player of renewable energies boasting over 6 GW of installed capacity worldwide, is expanding its footprint in France with the financing of two additional ground-based PV solar farms.

These two projects are located in Indre and Charente-Maritime, respectively, with a capacity of approximately 40MWp each. Expected to be both operational in 2024, they are poised to generate c.103 GWh annually to supply more than 18.000 households with electricity each year. BayWa r.e. will build and operate both projects.

As sole Mandated Lead Arranger, Hedge bank, and Facility Agent, CIC signed two c.€30 million PF loans for the construction and operation of each project. This achievement supports BayWa r.e.'s growth in France and reflects Crédit Mutuel Alliance Fédérale’s commitments to strengthen our leading position in financing the energy transition.

"As a leading French renewable energy financier, CIC played a pivotal role in ensuring the timely completion of the financing process. Their close collaboration with BayWa r.e. France’s project teams, strategically positioned across various regions of the French territory, was instrumental in achieving this successful outcome", said Can Nalbantoglu, Managing Director of BayWa r.e. France.

"We are very proud of the collaboration with BayWa r.e. France which drove seamlessly these two projects to financial close in a record timeline; it is yet another milestone achieved in our path to continuously support the energy transition in France and across Europe" said Mathieu Batby, Senior Director, Power & Renewables, EMEA of CIC.