Q Energy banks EUR 50m for French floating solar project

Construction works underway at the Les Ilot Blandin floating solar project in France. Copyright: Romain Berthiot. Source: Q Energy

European renewables developer Q Energy said today that it has raised EUR 50.4 million (USD 55.6m) in debt financing for its 74.3-MW floating solar project in France, touted as the largest such scheme in Europe.

The funds were arranged by Credit Agricole Transitions & Energies, through its financing arm Unifergie, and Bpifrance.

The Les Ilots Blandin project is being built over flooded former gravel pits in the Haute-Marne region, spanning 127 hectares. It will be equipped with 134,649 solar modules mounted on floats.

Construction works are already well underway and the site is expected to go live in the first quarter of 2025. Once operational, the plant will produce enough clean electricity to power 37,000 residents.

Q Energy’s French team launched the project in 2019. The scheme was among the winners in the French government’s PPE2 tender in August 2022.

(EUR 1 = USD 1.103)

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