French solar integrator Solairedirect has closed a EUR 20 million round of equity financing with existing shareholders and mutual insurance companies: MACIF, AGPM, UMR and Ofivalmo Partenaires.
Founded in 2006, Solairedirect claims to be France’s only pure-play solar company and is integrated from module production to decentralized power network operation. The company develops and operates infrastructures of all sizes (rooftop and ground-mounted) with turnkey service offers (design and engineering, installation and construction, financing, operation and maintenance) as part of carbon footprint community projects.
The company has 150 employees, 1 500 residential and commercial customers and over 300 megawatts of solar parks under development. One of the very first solar parks in France (4.2 megawatts) is now being built in Vinon-sur-Verdon (Southeastern France) as a part of Solaire Durance, a joint venture between Solairedirect and Caisse des Dépôts, France’s largest government-owned financial institution.
"This round of financing sets off the second phase of Solairedirect’s development, with the national coverage of our residential and commercial service offers, the launch of our PV module production and the construction of our first large solar parks." Thierry Lepercq, CEO of Solairedirect, said. "It helps secure our growth objectives which will create hundreds of new solar jobs in 2009."
Shareholders from previous funding rounds include Demeter Partners, Schneider Electric Ventures and TechFund.
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