Astris Finance advised Photosol, a French solar developer, in connection with the refinancing (the "Refinancing") of its portfolio of operating PV assets in mainland France and the Reunion (the "Portfolio"). The Portfolio has a total installed capacity of 64 MWp, spread over 7 ground-mounted power plants (56.5 MWp) and 3 building-integrated plants (7.5 MWp).

The power plants composing the Portfolio have been completed between 2011 and 2014, and had been initially financed separately through non-recourse project finance facilities. Photosol took profit of the attractive market conditions and of the Portfolio¹s outstanding operational track record to refinance its existing debt. The refinancing allowed Photosol to extend the maturity of its financing to 16,75 years, lower debt service coverage ratios and reduce financing cost.

The EUR 103.7 million facility was led by Natixis Energeco acting as Mandated Lead Arranger, with the participation of La Banque Postale, BPI, Crédit du Nord and Banque Palatine as participants.

Astris Finance acted as exclusive financial advisor to Photosol for the raising of the 103.7 mEUR facility. Astris is currently mandated on five similar refinancing transactions in Europe for solar and wind power plant portfolios.