France's Watt&Co Secures €60 Million Financing for Solar and Energy Storage Projects

en.Wedoany.com Reported - Watt&Co, a French renewable energy developer and independent power producer, has recently completed a subordinated financing round of €60 million, sourced from the Arkéa Euro Impact Transition Infrastructure Debt 2 and CIC Transition Infra Debt 2 funds. Founded in 2009, the company now employs over 100 people.

The financing structure, facilitated by Tevali Partners, is designed to provide equity construction funding for upcoming projects, specifically targeting 100 MWp of solar capacity and 50 MWh of energy storage. Watt&Co stated that this funding will enable it to continue implementing its strategy of long-term ownership of operational assets.

Watt&Co revealed that the financing is backed by its development portfolio, which encompasses 1.5 GW of renewable energy projects and 800 MWh of storage capacity. Currently, the company has approximately 130 MW of assets in operation or under construction, with an additional 100 MWp of projects having entered the financing phase.

The company's development pipeline includes 1.3 GWp of solar projects, primarily consisting of agrivoltaics and ground-mounted installations. Within the overall project mix, agrivoltaic and ground-mounted solar projects account for 83%, rooftop projects for 15%, and hydropower assets for 2%.

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