TSE finalizes a project financing of 100 million euros marking a record year

TSE, an independent developer and producer of solar energy in France, announces the establishment of project financing for an amount of 100 million euros in collaboration with Crédit Agricole Transitions & Energies (CA T&E) and the Caisse d'Epargne Provence Alpes Corse (CEPAC) and the Caisse d'Epargne Provence Alpes Corse (CEPAC) concluded in December 2024.

This financing will allow the construction and operation of a portfolio of seven solar parks on the ground with a total power of 120 MW. The seven parks concerned, spread over several sites in France (Ardennes, Seine-Maritime, Cher, Nord, Loiret) will contribute to the production of clean, renewable and competitive energy, equivalent to annual consumption of more than 65,000 inhabitants.

This financing is part of an exceptional period of growth and major achievements for TSE, with more than 220 million euros in funds raised in 2024, confirming the company's position as one of the most dynamic players in the sector in France (TSE raised 161 million euros in 2023, including €130M in capital).

This amount includes:

• 158 million euros in project financing, including transactions carried out with the Crédit Agricole Group and CEPAC in 2024;

• 65 million euros in green bonds issued to Eiffel Investment Group in October 2024.

2024, a pivotal year for TSE

The 100% French company TSE has consolidated its positioning as a new Independent reference player in renewable energies in France with important projects such as:

• The inauguration of two new agricultural canopies in Verdonnet and to Souleuvre-en-Bocage, continuing the deployment of pioneering agrivoltaic solutions (1st in the world in field crops);

• A threefold increase in the volumes of projects for which TSE has submitted a building permit, attesting to an ambitious and industrially controlled development strategy;

• A strengthened commitment to ESG criteria, in particular by:

- Adherence to the United Nations Global Compact;

- The implementation of an ambitious and leading ESG policy;

- A high alignment rate from 2024 with the European green taxonomy.

Promising prospects

These advances are reflected in exceptional financial and strategic results:

• A fourfold increase in TSE's revenues and financial products in 2024;

• A significant increase in the volume of projects under construction and operation, from 300 MW at the end of 2024 to 1,000 MW (1GWc) by the end of 2027 ;

• A clear goal to be B-Corp certified by the end of 2026, reflecting TSE's commitment to responsible and sustainable practices.

Mathieu Debonnet, President of TSE :” The year 2024 represents a historic year for TSE. Thanks to the commitment of our teams, the support of our financial partners, the industrialization of our processes and our proactive strategy, we are consolidating our position as a reference player, both in terms of quality and innovation and now in terms of the quantity of projects developed, allowing TSE to be a leading player in renewable energies in France. These results allow us to continue to innovate and support territories towards a low-carbon future. I would like to thank Caisse d'Epargne Provence Alpes Corse, Crédit Agricole Transitions & Energies and Eiffel Investment Group for their trust and commitment to us. These transactions confirm not only the solidity of TSE's strategy but also the attractiveness of our projects. TSE has grown exponentially while remaining true to its ambition: to support French territories in their agricultural and energy transitions. ”