Crédit Agricole Group finances 20 Fonroche Group photovoltaic power plants
The Aquitaine Regional Bank and Unifergie, Crédit Agricole Leasing & Factoring's specialist subsidiary for energy and territories financing, co-arranged a €71 million loan for the Fonroche Group. This leader in the renewable energies sector will use the financing to build 20 photovoltaic power plants (basically enormous greenhouses) generating a total of 42 MWc. LCL and eight other Regional Banks* covering these locations are participating in the risk and cash flow, with Crédit Agricole CIB providing the rate hedging.
* Regional Banks of Languedoc, Nord Midi Pyrénées, Sud Rhône Alpes, Provence Côte d’Azur, Toulouse 31, Sud Méditerranée, Charente-Maritime Deux-Sèvres, Alpes Provence