RGreen Invest, ETIC, CVE provide capital for solar power plant construction in Spain

The six solar farms in this portfolio are located in the Aragon region near Zaragoza.

  • RGreen invested via its Infrabridge III fund and ETIC through its ETE fund
  • CVE is an French producer of renewable energies
  • RGreen is an independent investment management firm

RGreen Invest, Energy Transition International Capital (ETIC) and CVE España have completed a €27 million financing for the construction of a 24MW portfolio of solar photovoltaic power plants in Spain.

RGreen invested via its Infrabridge III fund and ETIC through its Energy Transition Europe (ETE) fund.

The transaction comprises €17 million in senior bridge financing provided by RGreen Invest and €3.2 million in mezzanine financing provided by ETIC, according to a release. The remainder of the financing package will be provided by CVE equity.

The six solar farms in this portfolio, which are scheduled for commissioning in late 2024/early 2025, are located in the Aragon region near Zaragoza. With a capacity of 4MW each, they will generate a total of 45GWh per year.

“This new financing demonstrates RGreen Invest’s ability to support energy transition entrepreneurs in their strategic development on new markets and strengthens RGreen Invest’s presence on the Spanish market,” said Nicolas Rochon, chairman and founder of RGreen Invest.

CVE is an independent French producer of renewable energies. It develops, finances and builds solar power plants, biomethane units and hydrogen production facilities. The company is headquartered in Marseille, France.

RGreen is an independent investment management firm based in Paris.

ETIC is a renewable energy investment firm based in Paris.