Q Energy has secured €50.4 million in financing for its floating PV project, which will be the largest floating solar power plant in Europe. Located in northeastern France, the 74.3 MW plant is set to play a key role in Europe's energy transition.
Largest Floating PV in Europe
Q Energy has reached a major milestone in renewable energy by securing €50.4 million in financing for its floating PV project. This project is set to be the largest floating solar power plant in Europe.
floating PV project
The 74.3 MW floating solar plant is being built in northeastern France and will help lead the way in Europe’s energy transition. Once operational, the plant will prevent the emission of approximately 18,000 tons of CO2 annually.
The financing was arranged by two major banks: Crédit Agricole Transitions & Energies, through its financing arm Unifergie, and Bpifrance. This funding marks a significant step toward completing the floating PV project.
Floating PV: A Revolutionary Technology
Floating PV technology involves placing solar panels on water surfaces rather than on land. This has several benefits, including conserving land space and improving panel efficiency due to the cooling effect of water.
Floating PV systems are becoming an increasingly popular choice for renewable energy developers. In this case, Q Energy’s floating PV project will cover 127 hectares of water at a former gravel pit in the Haute-Marne department of northeastern France.
The floating solar plant will be composed of 134,649 solar modules mounted on specialized floating platforms. These panels will generate enough clean electricity to power 37,000 homes, thereby providing green energy to local communities.
Construction of the floating PV project began in September 2023 and is scheduled to take 18 months to complete. Pre-commissioning of the floating solar array is expected to take place in the first quarter of 2025.
Funding of the Floating PV Projects
The success of Q Energy’s floating solar project is backed by strong financial partnerships. Crédit Agricole Transitions & Energies and Bpifrance played critical roles in securing the €50.4 million needed to fund the development and construction of the floating solar array.
Their involvement demonstrates the growing confidence in renewable energy projects and the importance of innovative solutions like floating solar in the fight against climate change.
Pascale Courcelle, Head of Real Estate, Energy, and Environment Financing at Bpifrance said, “As a Climate Bank, Bpifrance is proud to contribute to the financing of the largest floating solar power plant in Europe.”
Christine Delamarre, Deputy CEO of Crédit Agricole Transitions & Energies also emphasized the significance of this project. “We are very proud to be one of the financial partners of Q Energy, an innovative player in the energy transition market.”
The Future of Floating PV in Europe
Once completed, Q Energy’s floating PV plant will be a landmark achievement in Europe’s renewable energy landscape. The project highlights the growing potential of floating PV technology to become a vital component of the region’s clean energy future.
Q Energy’s floating solar plant in Haute-Marne is just one example of the potential for this technology to expand across Europe. With over 127 hectares of water covered by solar panels, the project demonstrates the scalability of floating solar systems and their ability to significantly contribute to energy security and sustainability.
Ludovic Ferrer, Commercial Director of Q Energy France, expressed gratitude to the company’s financial partners. “We are very grateful for the great trust and commitment of our financing partners in this project,” he said.
“Together, we are taking one of the most innovative technologies for clean power generation to a new level and giving a further boost to renewable energies in France,” he added.
Q Energy’s floating PV project represents a significant step forward for renewable energy in Europe. With €50.4 million in financing secured, construction underway, and completion expected in 2025, this project will set new standards for solar energy production.