TSE strengthens its capital structure through a new bond issue of 65 million euros with Eiffel Investment Group
After raising 130 million euros in equity from Eurazeo, Crédit Agricole and Bpifrance in 2023, TSE, a developer and producer of solar energy in France, is strengthening its financing structure by raising a bond debt for an amount of 65 million euros today from the Eiffel Investment Group fund.
Thanks to this operation, the group is continuing its development to reach more than 1 gigawatt of assets under construction and in operation by 2027, in line with its strategic roadmap. This bond issue aims to finance investments made by TSE in the context of the development and construction of new photovoltaic power plants, for a cumulative capacity of around 800 megawatts, i.e. the annual consumption of 450,000 inhabitants.
TSE and Eiffel wanted to link the cost of this financing to the achievement of concrete CSR objectives, thus confirming its ambition to put environmental and societal responsibility at the heart of its growth model. In this context, TSE has in particular adhered to the United Nations Global Compact, which commits the company to implementing the UN's sustainability principles.
Created in 2016, TSE aims to become the main independent producer of French agrivoltaic energy. Thanks to an integrated model ranging from the comprehensive development of photovoltaic power plant projects to the long-term operation of these power plants, TSE guarantees particularly competitive energy for its customers, both industrial and private individuals. By investing very early to develop technological solutions dedicated to agrivoltaics and operating models that allow optimal combinations electricity production and agricultural efficiency, TSE is now positioned as a leading player in agrivoltaics in France.
Jean-Edouard Allard, Deputy CEO Finance & ESG of TSE :” The success of this transaction allows TSE to acquire a financing structure adapted to its growth plan and testifies to the confidence of investors in the solidity of its model. It also makes it possible to place our CSR ambition at the heart of our financing strategy. ”. For Mathieu Debonnet, President of TSE,” TSE has the resources to carry out its development according to its model, based on quality, long-term, territorial commitment to the agricultural world and manufacturers, not to mention our attention to the environment, which contributes to our corporate culture. ”
Pierre-Antoine Machelon, Head of Energy Transition Infrastructure Funds at Eiffel Investment Group :” We are very happy with the establishment of this first financing for TSE, in the service of the development of an agrivoltaics system that is both efficient and respectful of territories and the agricultural world. The innovative structuring of the transaction maximizes the impact of this financing: 800 MW of capacity, covering the consumption of 450,000 inhabitants. ”
