EREN Renewable Energy increased its capital by €100 million. The mobilisation of these funds represents the first step in a €200 million fund raising project. The second phase of this operation will take place between 2016 and 2017.

Bpifrance contributed €50 million to this capital raise. Next World and Salvepar respectively brought in €17.5 million and €16 million. The remaining €14 million were disbursed by FFP.

“By relying on a competent and experienced team, as well as the best local partners in the sector, we have the ambition of making EREN RE a global leader”, David Corchia (photo), Managing Director of the company, said.

“This investment comes as part of Bpifrance’s desire to invest in companies promoting the energy and environmental transition, by contributing to the rapid development of French renewable energies leaders, who have an ambitious project and attractive prospects”, José Gonzalo, Director at Bpifrance, said.

Created 3 years ago, EREN RE has today 240 MW worth of installations in operation or in construction. It is also developing a number of projects, in Africa particularly, with the goal of an installed capacity of 2GW by 2020.