Paris, April 2023 - Astris Finance congratulates Third Step Energy (“TSE”), a leading independent solar energy player in France, for the closing of a €130 million capital raise which will strengthen TSE’s position as a major player in the energy transition in France through the rapid growth in the development of photovoltaic and agrivoltaic solar projects.

The €130 million capital comes from three major players in the energy transition: Eurazeo, Bpifrance and a pool of investors from the Crédit Agricole group, represented in particular by IDIA Capital Investissement and Amundi.

Mathieu Debonnet, founder and CEO of TSE stated: “I would like to thank the Astris Finance team as they’ve structured and processed the capital raise in a very efficient manner. This new capital will allow us to continue to develop according to our model based on quality, long-term local commitment and to actively contribute to the decarbonization of our economy”.

Arnaud Germain, who heads Astris Finance’s operations in France and Germany, said: “We are very happy we advised TSE on this transaction, which will be instrumental for their future development. We would like to thank Mathieu Debonnet, Pierre-Yves Lambert and Frédéric Nicolas for their trust in Astris since our first collaboration back in 2019.”

Astris acted as exclusive financial advisor to TSE. This landmark transaction reinforces Astris’s premier position in the European renewable M&A sector and further strengthens our relationship with TSE who aims at developing 10 GW of solar projects in the next 10 years.