Corsica Sole Completes Financing for Two PV Plants with Société Générale
Deal News | Apr 11, 2025 | Bryan Cave Leighton Paisner LLP
Société Générale has supported the financing of two new photovoltaic power plants operated by Corsica Sole, situated on former industrial lands at Pithiviers (Loiret) and Cirey-sur-Vezouze (Meurthe-et-Moselle) in France. The financing process, led by Bryan Cave Leighton Paisner LLP, finalized arrangements for the solar facilities scheduled to begin operation in summer. These power plants are projected to produce 21 GWh of green electricity annually, effectively meeting the energy demands of 12,000 people including heating, while reducing CO2 emissions by 6,488 tonnes annually. Société Générale, acting as the arranger, agent, security agent, lender, and hedging bank, executed the senior debt underwriting. The BCLP legal team was led by Partner David Blonde for financing aspects, with energy and project advice from Partner Jean-Pierre Delvigne.
Sectors
- Renewable Energy
- Financial Services
- Legal Services
Geography
- France – The photovoltaic power plants are located in France, and the transaction involves French parties.
Industry
- Renewable Energy – This sector is pertinent as it involves the development and financing of photovoltaic power plants.
- Financial Services – Société Générale's role in underwriting and arranging the financing makes this sector relevant.
- Legal Services – Bryan Cave Leighton Paisner LLP's involvement as legal advisors ensures this sector's relevance.
Financials
- 21 GWh – Annual green electricity production from the two photovoltaic power plants.
- 6,488 tonnes – Estimated annual reduction in CO2 emissions from the operation of the solar plants.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Corsica Sole | Target Company | Company | An independent producer of renewable energy overseeing the development of the solar plants. |
| Société Générale | Lender | Company | Provided significant financial backing by underwriting the senior debt and acting in multiple financial roles. |
| Bryan Cave Leighton Paisner LLP | Legal Advisor | Company | Provided legal advice to Société Générale on the financing transaction. |