August 2020 - Astris advises TSE on the financing of a 95 MWp greenfield solar PV portfolio and on the subsequent sale of a majority stake in this portfolio.

August 2020 - Astris Finance is pleased to announce the closing of the Aton transaction, consisting in (i) the raising of a €60m financing for a 95 MWp greenfield solar PV portfolio located in France (the “Portfolio”) and (ii) the subsequent sale of a majority stake in the Portfolio.

Astris Finance acted as exclusive financial advisor to TSE, a French renewable energy developer (the “Sponsor”).

The projects of the Portfolio benefit from a 20-year contract for difference (CfD) awarded through CRE tender processes, with competitive tariff levels.

Astris conducted the debt and equity processes in parallel: we designed a carefully crafted financing structure and worked with La Banque Postale and BPI as Mandated Lead Arrangers; at the same time, we conducted a wide, competitive sale process, which led to the selection of a fund managed by Crédit Mutuel Capital Privé as financial investor. Both processes took place in the context of the unfolding COVID crisis and reached successful closing within a very short time frame.