Solairedirect raises 20 million euros in equity and becomes a major player in clean electricity in France

Solairedirect has closed a 20 million-euro round of equity financing with its existing shareholders (Demeter Partners, Schneider Electric Ventures, TechFund) and mutual insurance companies: MACIF, AGPM, UMR and Ofivalmo Partenaires

This operation, which stands out in the present financial environment, demonstrates the attractiveness of Solairedirect, its market and its business model. It strengthens the company’s position as France’s first pure play operator in solar power, a clean energy with enormous potential.

Founded in 2006, Solairedirect is an integrated solar power provider, present on the photovoltaic value chain 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.

Solairedirect’s mission is to provide everyone with the choice of clean and home-based electricity, producing reliable, high performance, low-cost and smart solar kilowatt-hours. It systematically implements technology, manufacturing and service innovations with the stated intention to be among the first power producers to reach grid parity in France and other countries.

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.

For Thierry Lepercq, CEO of Solairedirect, “ 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. It helps secure our growth objectives which will create hundreds of new jobs in 2009 “.