28 April 2022: Finergreen, a leading transaction boutique specialized in renewable energies and energy transition, demonstrates its unwavering commitment to the biogas industry in France and its positioning as the leading financial advisor for the sector with the recent closing of 4 landmark transactions for over €75m in total. These transactions were carried out on behalf of both industrial and agricultural clients and range from senior project finance to corporate level hard equity. Biogas projects shape our rural territories thanks the unyielding implication of farmers and the cooperation of local private and public stakeholders. In an increasingly complex and challenging environment, the successful closings of those transactions come as a reward of our longstanding commitment alongside biogas project developers. We have been committed to help project developers since 2013 and look forward to further supporting all industry players in France but increasingly so across Europe.
In November 2021, Finergreen advised Waga Energy and Meridiam on the successful closing of the first non-recourse project finance related to a large asset portfolio in France, using the proprietary Waga Box technology, designed to recover gas from landfills. The senior package was provided by BNP Paribas and Banque Populaire Grand Ouest.
In December 2021, Finergreen advised CVE in its €30m equity fundraising with Swen Capital Partners (Project CRONOS). With the support of this new shareholder, CVE Biogaz aims to reach an installed capacity of 1,5 TWh/year in France (c. 10% market share) by 2030. This partnership has already proven successful following CVE Biogaz’s recent acquisition of Ecovalim, a local integrated player of the biowaste collection and recovery industry.
In February 2022, Finergreen successfully implemented a senior debt facility to finance the construction of a 200 Nm3/h biomethane unit owned by Eiffel Gaz Vert and a group of local farmers (Project METHA VAL DE SAÔNE). The debt was provided by BNP Paribas and Banque Populaire Bourgogne-Franche-Comté.
In March 2022, Finergreen advised the 72 farmers behind the Oudon Biogaz project in securing (i) equity co-investors, (ii) a junior facility through crowdfunding, and (iii) a senior debt facility, for the construction of the project, for a total CAPEX of €25m. Located at the heart of Pays de Craon in Mayenne, Oudon Biogaz is one of the most important agricultural biogas projects in France with a production capacity of 55 GWh/year and a yearly recovery of over 140 000 tons of organic waste.
Equity co-investment was subscribed by Ter’Green and TEM53 who joined forces as minority shareholders with the 72 farmers and feedstock suppliers – who keep a majority ownership. Junior crowdfunding was secured via the crowdfunding platform Lendosphere. Senior financing was closed with a bank consortium led by BPGO/Helia Conseil and also includes Caisse d’Epargne Pays de la Loire and BNP Paribas.
Matthieu Kuzdzal, Vice President at Finergreen comments: “Our experience and understanding of the market specificities have been key in allowing us to provide tailor-made solutions to each of our clients towards a successful outcome. We are currently leading other transactions for major industry players in France and Spain and look forward to further supporting biogas players in an increasingly uncertain economic environment. Public support for the biogas industry is ramping up across Europe and we are hopeful that this trend will prevail in the long run. In France, the organization of new tenders for an additional capacity of 1,6 TWh over the next 18 months sends a positive signal, although much remains to be done. Those tenders will complement the existing support scheme for small and medium size projects, which already benefit from long term feed-in-tariffs.”
With nearly 10 years of experience, Finergreen stands out for its innovative and proactive approach. Passion, enthusiasm, and entrepreneurship define its commitment towards clients, supporting them from project inception to financial closing.
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About Finergreen: Finergreen is a financial advisory boutique specialized in energy transition and renewable energies. Founded in 2013, the company has already completed more than 150 transactions for a total of 3 billion euros. With 70 people based in 10 offices all over the world, the company provides Mergers & Acquisitions, Project Finance and Strategic Advisory services.
In 2021, the company was ranked #1 in Inframation international League Table, with 30 transactions executed in the renewable energy industry. For more information, visit: www.finergreen.com.
