French Solar Developer Technique Solaire Raises $29 Million to Expand its Portfolio

The company has 29 MW (operational and pipeline) of solar projects in India


Technique Solaire, a France-based solar developer, announced that it had raised €25 million (~$29.3 million) from its partners Bpifrance and Crédit Agricole Group.

This marks the second round of funding for the company from Bpifrance and Crédit Agricole de la Touraine et du Poitou, which had initially invested in Technique back in 2017.

“This operation validates Technique Solaire’s strategy of being a truly independent renewable energy producer in France and abroad. We will thus participate in achieving the ambitious objective of the Programmation Pluriannuelle de I’Enegie (PPE) by producing renewable, low-carbon, competitive, and local energy. Indeed, we will continue to support farms and local authorities in these territorial projects,” said Thomas de Moussac, Co-founder of Technique Solaire.

According to its press release, the company currently has 170 MW solar photovoltaic (PV) projects globally, either in operation or under construction. The company added that it aims to achieve 1 GW of solar capacity by 2024.

According to Mercom’s India Solar Project Tracker, Technique Solaire has 25 MW of large-scale solar projects in operations in India.

In January 2020, Technique Solaire had commissioned a total capacity of 20 MW (AC) of solar projects in Maharashtra. This was the second project of the company in India. Its local subsidiary, JLTM Energy, was the winner of 20 MW of solar projects in May 2018. As reported previously by Mercom, the company quoted a tariff of ₹2.71 (~$0.0401)/kWh for the project. The tender was initially floated in December 2017.

Technique Biogaz, a subsidiary of Technique Solaire, also has nearly 1 MW of biogas projects in operation, and the company has set a target to achieve 18 MW capacity by the end of 2024.

According to Mercom’s 1H and Q2 2020 Solar Funding and M & A Report, in the first of 2020, total corporate funding (including venture capital funding, public market, and debt financing) for the global solar sector was 25% lower with $4.5 billion compared to $6 billion raised in 1H 2019.