French solar power producer Smart Energies has announced a successful capital raise of EUR 87 million (USD 94.8m) from a consortium of investors, both new and existing, aimed at accelerating the deployment of its photovoltaic (PV) systems across Europe.
Plenium Partners, represented by its fund Ecualia Capital, and SWEN Capital Partners, via its SWEN Impact Fund for Transition, have joined Smart Energies' long-standing historical shareholders in this latest funding round, the company disclosed in its announcement on Thursday.
Specializing in mid-scale PV projects, Smart Energies operates in France, Italy, Greece, and the Nordics as a vertically integrated independent power producer (IPP). With a focus on sustainable development, the company boasts a portfolio of over 500 solar sites in Europe, totaling more than 160 MWp of operational or under-construction capacity. Notably, Smart Energies distinguishes itself by developing projects with minimal land footprint, utilizing already artificialized land such as buildings, parking lots, or small polluted plots.
Vianney de l'Estang, President of Smart Energies, emphasized the significance of the raised funds, stating, “The raised funds will enable the construction of more than 1,000 projects over the next four years,” underlining the company's ambitious expansion plans in the renewable energy sector.
