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.