Bogotá, February 25, 2026 - Astris Finance congratulates its clients Scatec ASA and Norfund on the successful financial closing of a COP 365,500 million (approximately USD 100 million) project financing for the Barzalosa project, a 130 MWp (100 MWac) solar PV project located in Nariño, Cundinamarca, Colombia.
Astris acted as exclusive financial advisor to Scatec ASA and Norfund in this transaction, which represents their first joint investment in Colombia’s renewable energy market, supporting them in the structuring and execution of the financing through to closing. Scatec is a leading global renewable energy solutions provider based in Norway and Norfund is the Norwegian investment fund for developing countries.
Barzalosa benefits from a 15-year Power Purchase Agreement (PPA) with BTG Pactual Comercializadora de Energía, covering approximately 85% of estimated generation, with the remaining output to be sold into the Colombian electricity market. The project is expected to reach commercial operation in the first half of 2027.
The lenders providing the financing are Bancolombia and Financiera de Desarrollo Nacional (FDN) for an aggregate amount of approximately COP 365,000 million, including non-recourse letters of credit facilities supporting reserve accounts, with overall leverage of approximately 70%.
“We are proud to have supported Scatec and Norfund on this transaction. Barzalosa is a strong example of how well-structured renewable projects can attract long-term capital in Colombia, and we are pleased to contribute to the continued growth of the country’s energy transition,” said Santiago Pardo, Managing Director and Head of the Andean Region for Astris Finance.
For Astris, this successful closing reflects both the strength of our sponsor-side advisory practice and our leading credentials and continued commitment to supporting renewable energy investment across Latin America.
February 2026 - Astris advises GreenYellow on a €400m debt raising
Paris, February 2026 – Astris Finance congratulates its client GreenYellow, a global leader in distributed energy solutions, on the closing of a € 400 million debt financing of a large portfolio of PV assets coupled with storage deployed across the entire French territory.
This project financing supports the development of +350 solar power plants on parking carports, exclusively dedicated to the Commercial & Industrial (C&I) segment, representing an installed capacity of approximately 385 MWp and an estimated annual production of nearly 480 GWh of renewable, local and competitive electricity – equivalent to the annual electricity consumption of a city of 200,000 inhabitants.
The transaction was arranged by Caisse d'Epargne CEPAC, Crédit Agricole CIB, Crédit Agricole Transitions & Energies and BPI France.
Astris acted as exclusive financial advisor to GreenYellow. This financing is another milestone in our collaboration with GreenYellow across several geographies and a testimony of Astris’s exceptional credentials in the European renewable financing space.
February 2026 – Astris raised € 5bn+ of debt for its European clients in 2025
Paris, February 2026 - In 2025, Astris advised on 16 European debt financing mandates across six countries: France, Spain, Germany, Italy, Poland, and Estonia. The facilities raised comprised 46% senior debt refinancings, 34% greenfield senior debt financings, and 20% holdco/junior debt financings.
Highlights
We led the three largest French RNW financings/refinancings in 2025: the wind and solar portfolio refinancing of JPEE, the hydro assets refinancing of Hydrocop, and the financing of C&I PV assets + storage for GreenYellow.
We advised Spanish renewable developer BRUC in the optimization of its capital structure at senior and topco level, raising in excess of € 1 bn debt in two transactions.
We structured and placed one of the largest fiber optic refinancings in Europe in 2025, the € 735 m Losange FTTH refinancing for sponsors Altitude Infrastructure, NGE Fibre and Caisse de Dépôts – with an innovative bank/bond dual tranche structure.
We closed the largest pure-merchant standalone BESS deal ever project-financed in Europe, the 200 MW/400 MWh BESS Herz 1&2 projects in Estonia, for Mirova, Corsica Sole and Evecon.
We advised Germany’s leading solar developer Enerparc in raising a sizeable, highly-structured debt facility. This complex deal was executed in under 5 months.
Arnaud Germain, Head of Europe at Astris, said: “We are proud to have supported our clients in achieving numerous successful closings in 2025. These transactions span a diverse range of countries, sectors, and debt products, demonstrating the depth and versatility of Astris's expertise across Europe.”
Fabrice Henry, Astris’s CEO, added: “In a rapidly evolving European energy landscape marked by ongoing financial market volatility, our sponsors require both creativity and rigor to optimize their financing transactions -- two hallmarks of Astris's approach. Building on our 2025 successes, we are committed to expanding our presence in the energy transition and digital infrastructure spaces in the years to come.”
December 2025 - Astris advises Amarenco on the successful €65m repowering and refinancing of a battery storage asset located in France
Paris, December 2025 - Astris Finance congratulates its client Amarenco, a leading Irish-based solar IPP, for the raise of a €65m debt facility for the repowering and refinancing of a battery storage asset located in southwestern France (“Claudia”). This transaction also marks the start of a long-term partnership with Banque des Territoires, the investment arm of State-owned Caisse des Dépôts.
Originally designed as a 1-hour BESS, Claudia is now being upgraded to 2 hours of storage, doubling its energy capacity - from 105 MW / 100 MWh to 94 MW / 188 MWh -, significantly increasing its value for the power system and extending the asset’s lifetime while reusing existing infrastructure. First battery deliveries are expected in spring 2026, with commercial operation planned for early 2027.
The transaction was arranged and financed by Société Générale and Rabobank.
Astris acted as exclusive financial advisor to Amarenco. This transaction is Astris’s fifth closing with Amarenco over the past 3 years and an additional credential in the very dynamic European BESS space.
December 2025 - Astris advises Technique Solaire Group in the successful closing of a €40m junior facility complementing the €302m senior debt raised in April
Paris, December 2025 - Astris Finance congratulates Technique Solaire Group, a French leading independent renewable energy producer, for the raise of a €40m junior debt facility. This financing will contribute to the financing of two project portfolios totaling 626 solar photovoltaic plants - rooftops, ground-mounted and floating - for a total capacity of 392 MWp. The assets are located in France, Spain and the Netherlands.
The transaction was subscribed by BNP Paribas Asset Management.
Astris acted as exclusive financial advisor to Technique Solaire. This financing comes on the heels of the €302m senior debt raised by Technique Solaire in April 2025 on which Astris acted as exclusive advisor. It is an additional milestone in our cooperation with Technique Solaire, and the 14th financing/refinancing closed in the European RNW space since the beginning of the year.
December 2025 – Astris congratulates Toesca on the USD 325m financing of a battery storage project alongside the refinancing of associated solar assets
Santiago, December 2025 – Astris Finance congratulates Toesca Asset Management-backed T Power, a prominent renewable energy development platform in Chile, for closing a USD 325m financing for a greenfield 141 MW/677 MWh battery storage project and the associated refinancing of a 141 MW co-located utility-scale PV solar project, and a portfolio of 18 PMGD small-scale solar projects totaling 121.1 MWp (the “Portfolio”).
The Portfolio’s utility scale PV and battery project operate under long term contracts with various distribution companies and commercialization entities, while the PMGD assets continue to operate under the stabilized regime.
The debt financing package comprises a USD 239.5m term loan, a USD 35m liquidity facility and an up to USD 50m letter-of-credit facility. Natixis and SMBC led the transaction alongside Banco de Credito e Inversiones and with a participation from NinetyOne.
Astris acted as exclusive financial advisor to Toesca Asset Management. The transaction represents an important milestone for our client and adds to Astris’s long and successful advisory franchise within the Chilean renewable sector
November 2025 - Astris congratulates TSE on €106 million financial close for a 120MW portfolio of photovoltaic and agrivoltaic plants
Paris, November 2025 – We are pleased to announce the closing of the Aphaia Finance 3 transaction in which we assisted TSE, a leading French solar developer, in the €106 million financing of a 120 MW portfolio of photovoltaic and agrivoltaic assets.
Spread over several French regions, these 15 solar farms will produce clean and renewable electricity each year equivalent to the consumption of more than 70,000 households.
The portfolio includes several agrivoltaic sheds, which illustrates TSE’s innovative strategy to develop synergies between agriculture and solar energy production, thanks to facilities designed to protect crops, improve animal welfare and optimize energy production.
Portfolio’s revenue stream comes both from the French Energy Regulatory Commission regulated tariffs (CfD) as well as from corporate PPAs.
The transaction was arranged by Caisse d'Epargne CEPAC, Crédit Agricole Transitions & Energies and BPI France.
Astris acted as exclusive financial advisor to TSE. This financing is another milestone in our longstanding collaboration with TSE and an additional greenfield solar financing credential in Europe.
November 2025 – Astris congratulates Hydrocop for the refinancing of a 101 MW portfolio of operating hydro assets
Paris, November 2025 – Astris Finance congratulates Hydrocop, a leading hydroelectricity energy developer and producer in France, for the refinancing of a portfolio of operating hydro assets, totaling an installed capacity of 101 MW (the “Portfolio”).
The Portfolio, which consists of 37 hydroelectric plants spread over mainland France is a mix of assets in operation. It is currently largely contracted and gradually transitioning to a predominantly merchant profile towards the end of the financing period.
This refinancing, structured around a new senior debt of €182 million, allows Hydrocop to consolidate its financial structure and free up resources for its ambitious development. The transaction was arranged by BPCE Group, La Banque Postale and BPI France.
Astris acted as exclusive financial advisor to Hydrocop. This transaction marks the start of Astris’s collaboration both with Hydrocop and its main shareholder Soregies and is another refinancing credential in the European renewable energy market.
November 2025 – Astris Finance Congratulates its client JP Energie Environnement for Closing a €430 Million Refinancing for a Wind and Solar Portfolio in France
Paris, November 2025 – Astris Finance Congratulates its client JP Energie Environnement for Closing a €430 Million Refinancing for a Wind and Solar Portfolio in France
We are pleased to announce the closing of Project Daiquiri in which we assisted JP Energie Environnement, a leading French IPP owned by the Nass family and France’s Caisse des Dépots.
The refinanced portfolio consists of 19 wind farms - including one under construction - and 25 solar plants, representing a total capacity of 427 MW.
The financing was arranged and financed by Bpifrance, CIC, Société Générale, and Crédit Agricole Transitions & Energies, alongside Groupe Crédit Agricole banks. This strategic transaction, initiated in early 2025, strengthens JPEE’s position as a leading player in the energy transition.
Xavier Nass, JPEE’s CEO stated: “This refinancing, completed with the very valuable support of Astris, provides us with the resources to accelerate our contribution to the energy transition while paving the way for new ambitions: organic and external growth, diversification – including in the energy storage space – and international expansion.”
Arnaud Germain, Head of Europe at Astris said: “The Daiquiri transaction further strengthens our relationship with JPEE and its shareholder Caisse des Dépôts and illustrates the added value a financial advisor such as Astris can create on a complex, multi-technology refinancing. We are happy to be able to support our clients on their refinancing plans across Europe with the level of commitment they know us for.”
Astris Finance acted as exclusive financial advisor to JP Energie Environnement from the structuring to the successful closing of the transaction, one of the largest portfolio refinancings in the French renewable market in 2025.
October 2025 - Astris Congratulates its Clients for Closing a €85.6m Financing for one of the Largest Battery Storage Projects in Continental Europe
Paris, 31 October 2025 - The Baltic Storage Platform (BSP) joint venture - bringing together French independent solar power producer Corsica Sole, Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable investment, and Estonia’s leading renewable energy developer Evecon - has successfully secured €85.6 million in financing from the European Bank for Reconstruction and Development (EBRD), Edmond de Rothschild Asset Management, and the Nordic Investment Bank (NIB) for its two battery energy storage projects, Hertz 1 and Hertz 2, located in Estonia.
The two projects are located in Kiisa and Aruküla, both approximately 25 km from Tallinn. With a combined capacity of 200 MW of power and 400 MWh of storage capacity, Hertz 1 and Hertz 2 will form one of the largest battery plants in continental Europe. Both projects are currently under construction and will be fully operational by the end of 2025 and 2026 respectively. These assets will play a critical role in stabilizing the Baltic power system following recent synchronization with the European grid, and in accelerating the phasing-out of fossil fuels.
This groundbreaking transaction represents the first project financing in the Baltic countries that is exclusively structured around the revenues generated by storage assets in the energy arbitrage and ancillary services markets. The private sector’s direct investment in a strategic energy infrastructure offers a concrete response to the Baltic region’s security-of-supply and energy independence challenges.
Astris Finance acted as exclusive financial advisor to Mirova, Corsica Sole and Evecon. This closing is a testimony to our ability to assemble the best mix of funding sources for complex, innovative transactions, and builds on our strong track record in the battery storage sector in Europe.
October 2025 - Astris Finance Congratulates Altano Energy on €81 Million Financial Close for Hybrid Renewable Portfolio in Spain
Madrid, October 2025 – Astris Finance congratulates its client, Altano Energy (“Altano”), for securing an €81 million facility to finance the construction of its multi-technology renewable energy portfolio in Andalucía, Spain.
With an installed capacity of 94 MW across two onshore wind farms and three solar photovoltaic plants, this portfolio represents a significant milestone in the decarbonization of southern Spain as it will produce near base load electricity given the complementarity of solar and wind production in this region of Spain. It is expected to be fully operational in 2027.
The financing was structured with ING acting as Mandated Lead Arranger, Lender, Original Hedging Counterparty, and Green Loan Coordinator. The transaction strengthens Altano's network of financial partners and reaffirms market confidence in its business plan.
Astris Finance acted as exclusive financial advisor to Altano. This landmark deal reinforces Spain’s leadership in innovative hybrid renewable platforms and highlights Astris’ strong track record in advising complex clean energy financings.
October 2025 - Astris Finance Congratulates Enfinity Global on €316 Million Financial Close for Utility-Scale Solar Portfolio in Italy
Madrid / Milan, October 2025 – Astris Finance congratulates its client, Enfinity Global (“Enfinity”), for the raise of a €316 million facility to fund the construction of eight utility-scale solar power plants in Italy. With a total planned capacity of 276 MW, these projects will make a significant contribution to Italy’s energy transition and are expected to be fully operational by the end of 2026.
The solar power plants are strategically distributed across the regions of Emilia Romagna, Basilicata, and Lazio, supporting regional energy security and Italy’s decarbonization targets.
The financing was structured through a club deal with ING, Rabobank, and BNP Paribas acting as Mandated Lead Arrangers, Lenders, Original Hedging Counterparties, and Green Loan Coordinators.
Astris Finance acted as exclusive financial advisor to Enfinity, providing strategic and financial support throughout the transaction, from structuring to successful close. This achievement further consolidates the strong partnership built over the last 3 years between Astris and Enfinity: to date, Astris has advised Enfinity in raising over €800 million of financing for more than 700 MW of solar PV projects in Italy.
October 2025 - Astris announces the opening of offices in New York and Toronto
New York and Toronto – October 8, 2025. Astris Finance announces the opening of offices in the U.S. and Canada to reinforce its focus on these two strategic markets. Following the partnership with Colliers which was announced in June 2025, Astris plans to target significant growth in the American and Canadian energy and infrastructure markets.
In New York, Nadia Zaets joins as Managing Director with a focus on energy opportunities in the U.S. Zaets has a 20-year advisory track record in the U.S. energy sector, initially with Credit Suisse and more recently with Whitehall & Company. She will join Romain Papassian, Astris partner and Head of the Americas, who is also based in New York.
In Toronto, Thomas Vandeburie joins as Director to open the office and lead the Canadian effort. Prior to joining Astris, he held strategic roles at Infrastructure Ontario, PwC and the European Investment Bank, where he led flagship infrastructure and energy transactions.
Astris Finance, the leading independent financial advisory firm specialized in infrastructure and energy transition, has been increasingly active in North America over the last several years. Astris is currently engaged in energy storage projects in both the U.S. and Canada; the transmission sector in the U.S.; and infrastructure opportunities in the U.S. A key differentiating success factor of Astris is the holistic advisory approach across the whole capital structure combined with deep sector knowledge and the understanding of local markets.
Papassian commented: “We are very excited to welcome Nadia and Thomas to expand our team focused on the U.S. and Canada. This is a key step in the implementation of our ambitious strategy in North America which has significant energy and infrastructure needs.”
Fabrice Henry, Astris CEO, added “Our plans in North America represent an important expansion of our footprint where we can leverage our new partnership with Colliers, in two of their key markets. We look forward to bringing our unique brand of advisory to our existing clients as well as new clients active in the U.S. and Canada.”
August 2025 - Astris Congratulates its Client BRUC for the Refinancing of a €650m Corporate Facility
Madrid, August 2025 – We are pleased to announce the successful closing of the refinancing of BRUC’s €650m corporate debt through a green loan facility provided by Santander, ING, Schroders Capital, Infranity, ICO and BNP Paribas.
This facility replaces the initial financing closed in 2023 and supports BRUC’s 6,600MW clean energy business plan in Spain. The funding enables construction, commissioning and hybridization of solar, wind and battery storage assets.
BRUC currently has 1.96GW of projects in operation, 487MW of projects under construction, and a 4.15GW development pipeline. In the first half of 2025, it produced 1,650GWh of electricity, which met the needs of c. 420,000 households and avoided 477,000 tons of CO₂. This refinancing is another testimony of continued institutional confidence in BRUC’s long term strategy.
Astris acted as financial advisor to BRUC. This closing underscores our ability to craft tailor-made financing solutions for the leading renewable energy developers and confirms Astris's expertise in structuring corporate financings and optimized capital structures.
June 2025 – Astris Finance Advises on the Sale of Project Mainland, a 62 MW Operational Solar PV Portfolio in Spain
Madrid, June 2025 – Astris Finance is pleased to announce the successful closing of Project Mainland, the sale of a 62.1 MWp operational solar photovoltaic portfolio located in Navarra, Spain. Astris Finance acted as exclusive financial advisor to Amarenco Group on the 100% sale of the portfolio to Octopus Energy Generation, one of Europe’s leading renewable energy investors.
The portfolio comprises two plants – Project Guardián (37.2 MWp) and Project Cierzo (24.9 MWp) – both commissioned in October 2024 and currently operating under a fully merchant revenue scheme. The assets were previously financed under a mini-perm structure arranged by Astris Finance in 2023.
With this transaction, Astris Finance further consolidates its position as a leading financial advisor in the Iberian renewable energy market, where the firm is currently advising on multiple mandates across equity and debt transactions.
June 2025 - Astris and Colliers Enter Global Partnership
TORONTO and WASHINGTON, D.C., June 4, 2025 – Astris Finance partners with leading diversified professional services and investment management company Colliers to further expand its global investment banking platform focused on infrastructure and energy transition.
Astris Finance and Colliers (NASDAQ, TSX: CIGI) announced today that they have entered into a definitive agreement under which Colliers will acquire a controlling interest in Astris Finance. Under Colliers’ unique partnership model, the senior leadership of Astris Finance, along with nine senior team members who will become partners, will retain significant ownership in the business. The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2025. Terms were not disclosed.
Founded in 2000, Astris Finance has 65 professionals across nine offices in the Americas, Europe, and Asia. The firm provides strategic and transaction advisory services including M&A, project finance, and other long-term capital raising to the world’s leading developers and investors in transportation, renewable energy, power generation and distribution, as well as digital and social infrastructure. Over the past three years, Astris Finance has ranked among the top three financial advisors in the IJ Global Renewables League Tables by number of transactions closed globally -- and first at the European level. To date, the firm has advised on more than 400 transactions totaling over $60 billion in investment.
“Colliers manages more than $25 billion of energy transition and other infrastructure assets through our Investment Management segment and we deliver comprehensive technical design and consulting services to the same sectors through our Engineering segment,” said Elias Mulamoottil, Co-Chief Investment Officer of Colliers. “With Astris Finance, we significantly expand our investment banking capabilities, allowing us to better serve institutional clients and capitalize on the growing global demand for infrastructure that supports urbanization, energy security, and decarbonization.”
“Over the past 25 years, we’ve built Astris Finance into a leading global advisor in the infrastructure and energy transition space,” said Fabrice Henry, Founding Partner and Chief Executive Officer of Astris Finance. “Partnering with Colliers, a global leader in professional services with a strong track record, deep institutional credibility, and long-standing relationships in our sector, is a natural next step in accelerating our growth. Together, we will expand our reach, broaden our advisory capabilities, and unlock new opportunities to serve our clients around the world. We couldn’t be more excited about what lies ahead.”
Astris’s senior partner team, led by CEO Fabrice Henry, will implement the firm’s expansion strategy across the Americas, Europe and Asia Pacific:
Tobey Collins will leave her role as Head of Americas to become Chief Growth Officer, responsible for steering inorganic growth.
Romain Papassian will take over as Head of Americas; beyond the consolidation of our leading position in Latin America, he will focus on growing the firm’s presence in the US and Canada.
Arnaud Germain, our Paris-based Head of Europe, will work with Gonzalo Ruiz, our Madrid-based Head of Southern Europe, to accelerate Astris’s deployment in every large European market, with a renewed emphasis on Germany, Italy and the UK, seeking to replicate our successes in France and Iberia.
Jean-Marie Boudet will continue as Group COO and will oversee the firm’s operational integration with Colliers.
Astris Finance Contact
Jean-Marie Boudet
Chief Operating Officer
jean-marie.boudet@astrisfinance.com
Colliers Contact
Christian Mayer
Chief Financial Officer
+1 416 960 9500
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a global, diversified professional services and investment management company. Operating through three industry-leading platforms – Real Estate Services, Engineering, and Investment Management – we have a proven business model, an enterprising culture, and a unique partnership philosophy that drives growth and value creation. For 30 years, Colliers has consistently delivered approximately 20% compound annual returns for shareholders, fuelled by visionary leadership, significant inside ownership and substantial recurring earnings. With nearly $5.0 billion in annual revenues, a team of 23,000 professionals, and more than $100 billion in assets under management, Colliers remains committed to accelerating the success of our clients, investors, and people worldwide. Learn more at corporate.colliers.com, X @Colliers or LinkedIn.
About Astris Finance
Astris Finance is an investment banking firm with a 25-year track record in infrastructure and energy transition. Headquartered in Washington, D.C., the company has offices in Mexico, Bogota and São Paulo in the Americas; Paris, Madrid and Munich in Europe; and Singapore and Ho Chi Minh City in Southeast Asia. Astris Finance is currently working as the mandated financial advisor on a pipeline of M&A and financing deals across the Americas, Europe and Asia, representing an aggregate investment of more than US$15 billion in a variety of sectors including renewable and clean conventional energy, transportation, environmental services, digital and social infrastructure.
May 2025 - Astris congratulates its client Losange for the EUR 735m refinancing of its very high-speed broadband concession in northeastern France
Paris, May 2025 – Astris Finance congratulates its client Losange for the successful EUR 735 million refinancing of its very high-speed broadband concession in northeastern France.
In July 2017, Région Grand Est, the regional government for northeastern France, awarded a concession (known as “Délégation de Service Public”) for the design, construction, operation, marketing and financing of a superfast broadband network covering the seven of the region’s ten departments to Losange SAS, a project company owned by Altitude Infrastructure THD (part of the Altitude Infra group, 57%), NGE Fibre (part of NGE group, 22%) and Caisse des Dépôts et Consignations - Banque des Territoires (21%).
On May 27, 2025, Losange closed the refinancing of its initial senior debt package through a innovative, long-term amortizing facility for a total amount of EUR 735 million, composed of a 26-year, fixed-rate bond of EUR 325 million; a 20-year, variable-rate bank loan of EUR 375 million; and a debt service reserve facility of EUR 35 million.
The bond was subscribed by AXA Investment Managers and Allianz Global Investors; while the bank tranche was arranged by Société Générale (who also acted as documentation bank and agent), Arkéa CIB & Crédit Mutuel Arkéa, the BPCE group (BRED Banque Populaire, Caisse d’Epargne Ile-de-France, Caisse d’Epargne Normandie, Caisse Epargne Grand Est Europe and Natixis), the Crédit Agricole group (AUXIFIP, Crédit Agricole Alsace-Vosges, Crédit Agricole de Lorraine and LCL), La Banque Postale and Nord/LB. The same bank group provided an interest rate swap.
Astris acted as exclusive financial advisor to Losange in the structuring and placement of the refinancing.
Florent Nicol, Director at Astris Finance France, said: “the French regulated FTTH sector is slowly evolving into a mature market, with the first concessions reaching refinancing stage and their deployment rate stabilizing. Commercial ramp-up is driven by customer migration from broadband to optical fiber – a trend expected to benefit from the regulatory push for the complete switch-off of copper lines by 2030 as per the Plan France Très Haut Débit. This favorable context, coupled with the quality of the Losange asset, allowed us to optimize the capital structure with a long-dated, dual bank-bond tranche – tailor made to the appetite of the two liquidity buckets in terms of maturity and pre-payment risk.”
This landmark refinancing is a testimony to Astris’s positioning as market leader in debt advisory across the full spectrum of infrastructure and energy sectors. It is also an additional milestone in our longstanding collaboration with the Losange shareholders.
April 2025 - Astris advises CDPQ in the sale of a transmission asset to Atlantica in Uruguay
Washington, April 2025. Astris Finance congratulates its client CDPQ in the successful sale of a 132-mile transmission line in Uruguay to Atlantica Sustainable Infrastructure Ltd.
The transmission line has been in operation since 2019 and has a lease agreement until 2049 with UTE (Administración Nacional de Usinas y Transmisiones Eléctricas), the state-owned company responsible for the generation, transmission and distribution of electricity in Uruguay.
Astris acted as exclusive financial advisor to CDPQ in the M&A sell-side process. The closing of the transaction demonstrates Astris’ leading position in the Uruguayan infrastructure and energy markets, where we have been active and advised several landmark transactions over the past years.
April 2025 - Astris advises Technique Solaire in the successful raise of a €302m landmark pan-European greenfield financing.
Paris, April 2025. Astris advises Technique Solaire in the successful raise of a €302m landmark pan-European greenfield financing.
Astris Finance congratulates Technique Solaire, a leading independent renewable energy producer, for the raise of a €302m landmark pan-European greenfield long-term debt facility to finance the construction of a portfolio of 341 assets, with an aggregate capacity of 240 MW across France, Spain and Netherlands. The innovative asset mix in the portfolio - multiple jurisdictions, PV technologies, and offtake strategies - attracted very strong market support. This financing is the largest secured by Technique Solaire to date.
The portfolio illustrates Technique Solaire’s unique multi-product expertise in the PV field: agricultural sheds, climate shelters, pheasant breeding rooftops, greenhouses, ground-based and floating projects. A majority of the portfolio’s revenue stream comes from regulated tariffs. The portfolio will be commissioned between 2025 and 2027.
The transaction was arranged by Société Générale, Crédit Agricole Transitions et Energies, and BPI France.
Astris acted as exclusive financial advisor to Technique Solaire, achieving a very tight timeline of less than 4 months from structuring to financial close. This transaction is another landmark financing credential for Astris in the European solar PV markets – our 20th in the past 24 months.
April 2025 - Astris Finance Congratulates its Client GreenYellow for the Closing of a Capital Raise for its Asian Business
Paris, April 2025 - Astris Finance congratulates its client GreenYellow, a global leader in distributed energy solutions, for the closing of a capital raise for its Asia business whereby STOA, a French impact investor specializing in infrastructure and renewable energy, and DEG, the German development finance institution, will commit equity capital to dynamic yieldco structure called Yoko.
The Yoko structure, seeded with 189MWp of rooftop solar generation assets located in Thailand and Vietnam, will enable GreenYellow Asia to grow up to 400MWp by the end of 2026, through an elaborate capital injection and reinvestment mechanism.
The development of rooftop solar generation will help Southeast Asian nations on their path towards net-zero. The economies of Thailand and Vietnam are very sensitive to the all-in cost of electricity, and distributed generation is a cost-effective option to reduce carbon emissions.
Nicolas Le Clerc, co-head of Asia-Pacific at Astris Finance, commented: “Project Yoko was a great opportunity for us to take a sophisticated capital deployment scheme which we helped develop in European markets, and adapt it to developing Asia. Even though financial markets have been choppy lately, the commitment and focus of all the parties involved ensured a timely closing.”
Frank Gluck, GreenYellow Asia Pacific CEO, added: “This partnership marks a major milestone for GreenYellow in Asia. With the support of STOA and DEG, we are now ideally positioned to accelerate our growth across the region, bringing clean, reliable energy to more businesses. The Yoko structure gives us the flexibility and firepower to scale sustainably and strategically.”
Fabrice Henry, Astris group CEO, said: “The Yoko transaction further strengthens our relationship with global asset manager Ardian, the controlling shareholder of GreenYellow. It also illustrates the added value a global advisory business such as Astris can create by disseminating best practices across markets. We are happy to be able to support our clients on their growth plans in Southeast Asia with the level of commitment they know us for globally.”
Astris acted as exclusive financial advisor to GreenYellow. Over the past three years, Astris has advised on over ten renewable energy transactions across Southeast Asia – in Vietnam, Thailand, Indonesia and the Philippines.