TLDR:
- Smart Energies raised $95 million to accelerate deployment of small solar sites in Europe
- The funding will support the construction of more than 1,000 projects over the next four years
Independent Power Producer (IPP) Smart Energies has secured €87 million (USD$95 million) in financing to speed up the deployment of small solar sites across Europe. The Paris-based company focuses on developing, financing, building, and operating renewable projects, with a particular emphasis on mid-scale solar PV projects. With over 500 solar sites already in operation or under construction and a capacity of 160 MWp, Smart Energies plans to expand its reach with this new funding.
The 2024 financing round brings in two new shareholders, including Plenium Partners and SWEN Capital Partners, demonstrating increased investor support for Smart Energies’ mission-driven approach. The company’s strategy, which involves developing solar projects on already artificialized land like buildings and parking lots, has gained traction and attracted new investment. The funds will also enable Smart Energies to accelerate its development efforts in countries like Greece and the Nordic region.
President of Smart Energies, Vianney de l’Estang, highlighted the significance of the new financial backing, stating that it would facilitate the construction of over 1,000 projects in the next four years. The company’s unique approach to medium-sized solar projects with minimal land footprint has resonated with sustainability-focused investors like Plenium Partners and SWEN Capital Partners, who see the potential for growth and positive local economic impact.
Overall, Smart Energies’ latest funding round marks a significant step towards expanding its presence in the European renewable energy sector and driving the transition towards clean energy solutions.
