Corsica Sole launches France’s largest crowdfunding equity financing operation for a solar power plant
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CS Solaire, a subsidiary of the Corsica Sole group, has just launched a crowdfunding campaign for its 27 MWp solar farm project under construction in Picarreau (Jura).
This ambitious operation represents the largest crowdfunding campaign for a single photovoltaic power plant in France. In fact, 40% of the equity capital required will be open to citizenshareholders, representing €1.3 million of the total investment of €18.3 million.
Another key feature of the scheme is that this contribution will be 100% local. In accordance with the specifications of the Energy Regulatory Commission (CRE), the shares offered will be reserved for the municipality of Picarreau and residents of the Jura and five neighboring departments: Ain (01), Côte d’Or (21), Doubs (25), Haute-Saône (71), and Saône-et-Loire (71). This project therefore offers them an exceptional opportunity to take action and mobilize for the energy transition in their region.
Launched in November 2020, the subscription campaign will end in January 2021. It has been entrusted to the local association AJENA Environnement et Energie and ENERFIP, one of the leaders in crowdfunding for renewable energy projects.
The Picarreau solar farm will be the largest power plant in Franche-Comté. CS Solaire was the winner of the CRE’s February 2019 tender 4.5. Work on this 27-hectare site began in early 2020 and the plant will come into service in 2021.
Producing 29.5 GWh per year, equivalent to the annual electricity consumption of 10,000 households, it will prevent the emission of around 1,200 tons of CO2 per year. The project also has a significant environmental component.
In Picarreau, we are experimenting with a 100% sustainable and citizen-led local development model. The project was designed in close collaboration with local stakeholders: Picarreau Town Hall, environmental associations, and citizens. It was logical that the inhabitants of these departments should also be involved in the energy transition of their region through this citizen-led investment.
About Enerfip
Enerfip was founded in 2014 by renewable energy professionals with extensive experience in financing. Approved by the French Financial Markets Authority (AMF), it selects reliable projects developed by recognized companies. Citizens then invest part of their savings, free of charge, in the projects of their choice for 3 to 6 years with an interest rate of up to 6%.
Key figures: €50 million raised. 155 projects financed. 20,000 members. 20 employees. Founded in 2014 in Montpellier. More information: https:/www.enerfip.fr/
About Ajena
Involved for many years in what is now known as the energy transition, the Ajena association was created in 1980 with the aim of promoting energy savings and renewable energies. It currently has a team of 15 administrators, 11 employees, and 170 members.
Faced with environmental, economic, and social challenges, the association works primarily to: inform, raise awareness, and mobilize citizens; provide coherent technical solutions in the field of construction and energy; combat energy poverty; and share its knowledge
More broadly, Ajena helps bring all energy-related projects to fruition in the fields of construction, transportation, and consumption.https://www.ajena.org
