Global investment firm Eurazeo has led a €130m fundraising round by French solar energy producer TSE to help support projects.

Eurazeo, through its transition infrastructure fund, has participated in the capital raising alongside with French bank Bpifrance and investors from the Crédit Agricole group to become shareholders in TSE.

TSE, which currently has 1.6GW of projects at varying stages of development, intends to use the capital injection to help develop large-scale photovoltaic projects and agrivoltaic projects which make use of solar panels and agriculture on the same land.

TSE’s founder and president Mathieu Debonnet and CEO Pierre Yves Lambert said Eurazeo, Bpifrance and Crédit Agricole’s investment, which will help to boost the firm’s growth, also ”demonstrates the strength of our business model, products, innovations and know-how” in the field of solar power.

“We will continue to develop according to our business model based on quality, a focus on the long term, a grass-roots commitment to farmers and manufacturers and an environment-focused culture. More than ever, we will play an active role in decarbonising our economy and increasing its resilience,” the pair added.

Melissa Cohen, managing director of Eurazeo’s infrastructure team, said: “We are delighted to be partnering with TSE, a producer of photovoltaic energy whose products combine the benefits of solar power and agricultural development, and which can be adapted to all types of terrain. This fundraising round will give it the resources it needs to fulfill its ambitions.”

Last month IPE Real Assets reported that the Eurazeo Transition Infrastructure Fund, which raised an initial €210m in November last year, has now doubled in size, reaching 80% of its initial target.

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