International Law firm BCLP advised the banking pool led by Crédit Agricole du Languedoc on the establishment of a €38 million Revolving Credit Facility for the benefit of Elements, with a potential extension to €50 million. The facility has a 3-year term, with two additional years available as options, and is intended to support the company's development projects in France and Italy.
Founded ten years ago in Montpellier, Elements is a renewable energy producer whose mission is to supply decarbonized electricity from projects it develops in-house. Its business model is built around a participatory development approach, involving participatory investment, engagement with local municipalities and consultation with local residents. The company provides turnkey solutions thanks to its expertise across all stages of project development and operation, as well as major renewable technologies. Elements has offices across France (Montpellier, Paris, Lyon, Bordeaux and Guadeloupe) and is expanding internationally with operations in Finland, Italy, Germany, Romania and the Caribbean region.
This credit facility will enable Elements to support its growth trajectory towards its objective of reaching 1 GW of installed capacity. It will provide flexible financing for the construction of photovoltaic, hydropower and wind project portfolios in France and Italy. Part of the facility will also be allocated to the group’s general corporate purposes.
The banking pool, led by Crédit Agricole du Languedoc acting as arranger, agent and lender, includes Arkéa Banque Entreprises & Institutionnels, LCL (also serving as ESG Coordinator), BPIFRANCE, Banque CIC Sud-Ouest, Crédit Coopératif, Crédit Agricole Centre-Ouest and Crédit Agricole Champagne-Bourgogne.
The BCLP team included Partner David Blondel and Counsel Charles Sechao.
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