Watson Farley & Williams (“WFW”) advised a syndicate of banks comprising Auxifip, Caisse Régionale du Crédit Agricole Mutuel du Languedoc and Crédit Agricole Transitions & Energies on the €24m financing for a portfolio of six solar plants being developed by green electricity producer and supplier Eléments.
Located in the Occitanie and Gironde regions of Southwest France, the plants are expected to have a total capacity of 22 MWp once operational, equivalent to the annual consumption of 7,180 households.
Auxifip, Caisse Régionale du Crédit Agricole Mutuel du Languedoc and Crédit Agricole Transitions & Energies are subsidiaries of the Crédit Agricole Group. The group is the second largest bank in France, third largest in Europe and tenth largest in the world.
Eléments is a renewable energy producer dedicated to accelerating the energy transition by supplying low-carbon electricity. It aims to develop 6 GW of renewable energy projects by 2027.
The multidisciplinary WFW Paris team that advised the banks was led by Finance Partner Laurence Martinez-Bellet, supported by Associates Julie Michelangeli and Simon Allain. Partner Laurent Battoue, Counsel Antoine Bois-Minot, and Associate Juliana Brandao Marques advised on public law and regulatory matters, while Partner Cyrille Gogny-Goubert and Associate Catherine Masquelet assisted on the real estate aspect of the transaction.
