Olympus

Top-tier French renewable energy power producer

Photosol is a French photovoltaic developer and power producer

Investment overview
Industry
Renewable energy
Country
France
Rivage role
Structuring role

Rivage financed the holding company that owns the portfolio of Photosol Group’s operational solar PV assets.

A total investment of €55m was made through three deals signed over 2020-2022, based on assets in mainland France and in the French overseas departments and territories, representing a total of 470MWp distributed across a portfolio of 56 operating SPVs with senior debt.

The assets are either operational or under construction. Any newly commissioned asset will be gradually transferred to this scope.

Investment rationale

The structuring and sizing assumptions of the deal ensure the project’s resilience to refinancing risk.

Strong sponsor support, with Rubis SA having bought 80% of Photosol.

Opportunity in the French renewable energy sector, with an attractive return and the option of additional financing once new projects in development are built and transferred to the Borrower

Investment overview
Industry
Renewable energy
Country
France
Rivage role
Structuring role
Stable Cash Flows
Project structured on Feed-in-Tariff contracted cash flows
Tier-one Developer
Strong pipeline gradually adding value to the Project
Diversified Cash Flow
Project holds 56 entities accorss French territories

Our high-return infrastructure investments span across Europe