May 2021 – Astris congratulates Hexagon and TTR for the closing of the financing of Sud Marne, France’s largest onshore wind project (122 MW).
Hexagon Renewable Energy SA, an independent power producer incorporated in December 2020, managed by TTR and owned by a consortium of investors – Crédit Mutuel Capital Privé, la Banque des Territoires, Amundi Transition Energétique, Generali Global Infrastructure, Mirova and TTR – announces the closing of the financing of the Sud Marne project located in Eastern France. Wholly owned by Hexagon, the Sud Marne Project will be the France’s largest onshore wind project (122 MW).
The project has raised no-recourse senior debt arranged and subscribed by BPCE Group (BPCE Energeco and Caisse d’Épargne et de Prévoyance Grand Est Europe) and La Banque Postale, as well as a VAT revolving facility provided by BPCE Energeco. La Banque Postale and Natixis also acted as hedging banks.
Energy sale is secured for 20 years through the award in 2019 of a contract for difference with EDF-OA through its participation in the 2017/S 083-161885 request for proposal. The electricity production of the Sud Marne project is equivalent to the annual consumption of 151,200 households and will avoid the production of 118,000 tCO2 per year.
Energy production is planned to start in January 2023. The project consists of 30 4MW and 4.2MW turbines supplied by Vestas. Construction works have begun in May 2021.
Astris Finance acted as exclusive financial advisor to Hexagon and TTR in the structuring and closing of the transaction.