Clifford Chance

Clifford Chance advises Delta Solar and Aloe Invest on a solar PV plant portfolio refinancing

Leading international law firm Clifford Chance advised Delta Solar and Aloe Invest on a solar PV plant portfolio refinancing.

Delta Solar, one of France's top five solar operators, has successfully refinanced a portfolio of nine photovoltaic parks located in various parts of southern France and Corsica with a total installed capacity of 67.3 MWp. Delta Solar’s ultimate shareholders include Ardian, Bernis Energy, Debiopharm Investment and Nixdorf Foundation, following their acquisition of shares in Delta Solar’s parent, Aloe Energy SAS, in late 2014 through Aloe Invest SAS, a renewable energies investment vehicle. 

This challenging solar asset portfolio refinancing was brought to financial close in a record timeframe, with the signing of the senior facilities agreement being achieved around six weeks after the arrangers, Crédit Agricole Corporate and Investment Bank, Siemens Bank and Société Générale, were mandated.

Delta Solar and Aloe Energy were advised by Clifford Chance with a team led by Benjamin de Blegiers (partner) and Chloe Desreumaux (associate) on project and financing aspects, Gabriel Mauger (associate) on derivatives aspects, Marianne Pezant (counsel) and Thierry Diouf (associate) on corporate law aspects.