Dhamma Energy wishes to send a message of solidarity to those who have been affected by the Covid 19, and especially to Mexico, France and Spain, where we have a significant presence.
In this context, at Dhamma Energy we have implemented different measures for the security of our employees and clients. Among these actions, we have increased home office work and limited travels.
At Dhamma Energy, we keep working for the development of solar energy and we believe that renewable energy will be a driving force for a better and more sustainable future.
Madrid, February 11, 2020.- International solar developer Dhamma Energy announced today that it has secured long-term funding for the 87.5 MWp Athies-Samoussy site, the largest solar park in the Hauts-de-France region of northern France.
French bank Caisse d’Epargne CEPAC acted as sole arranger, agent, and account bank, working with Bpifrance, as the lender, and Natixis as the sole hedging bank.
“We are delighted to have established with Caisse d’Epargne CEPAC, BPI and Natixis a very competitive bank financing for our largest solar park in France. This marks a new step in our growing French portfolio that balances the geography of our solar parks in operation, which are currently located in Southern France and Corsica,” said co-founder of Dhamma Energy Olivier Crambade.
“We are pleased to have been able to arrange the financing of this new project for Dhamma Energy, for which we have been financing French projects for several years. This financing has been structured to allow Dhamma Energy to best benefit from the favourable liquidity that the European Investment Bank offers the French renewable energy sector and will also allow Dhamma Energy to benefit from a truly optimized financing cost”, said in a joint statement Didier Moaté and Amaury Schoenauer, respectively member of the board and head of Structured Financing at Caisse d’Epargne CEPAC.
Dhamma Energy won the Athies-Samoussy project in 2018 at French national auctions. The public and private sectors as well as individuals through crowdfunding have also invested in the project.
The Athies-Samoussy project set a record of crowdfunding for a solar project awarded at national auctions in France. The project collected 1.1 million euros through the platform Lendosphere in 25 days in July last year. Only local investors participated in the crowdfunding.
The solar park is also financed by the mixed companies SEM Somme Energy and SEM Energies Hauts-de-France, as well as the private group Maison Mélan Moutet.
The five solar parks which compose the Athies-Samoussy project will come online over the next 12 months. Annual electricity production will be 93 GWh, which is the equivalent of the domestic consumption of 40,000 households.
Construction has already started at the site. The project will provide a new use for the former Laon-Athies NATO Air Base, which is currently abandoned.
Infrastructure company Grupo Ortiz are responsible for the engineering, procurement and construction (EPC) for the project. Dhamma Energy and Grupo Ortiz signed a contract for the construction, operation and maintenance.
“We have found in Grupo Ortiz a recognised partner for the construction of the Athies-Samoussy solar park. Grupo Ortiz has a broad experience in the EPC of large solar parks, at an international level and in France,” said Sémir Chahed, Director of Development for France.
About Dhamma Energy
Dhamma Energy, headquartered in Madrid (Spain), develops, finances, builds and operates solar parks, solar rooftops and self-consumption installations. To date Dhamma Energy has fully developed 650 MWp of solar projects, most of them located in Mexico and France. Dhamma Energy has currently a pipeline of over 3 GWp under development in Europe, Latin America and Africa.
About Caisse d’Epargne CEPAC
Caisse d’Epargne CEPAC is a prominent cooperative bank operating in the Mediterranean area and the French overseas territories. It is a member of the BPCE Group.
It gathers more than 3,500 employees, its 318 agencies serve 2 million clients, and its 10 business centres are dedicated to businesses, local authorities, social economy, social housing organisations, SME, and real estate professionals.
Caisse d’Epargne CEPAC also offers a large range of specialised products, such as structured financial solutions, investment capital, microcredit, and real estate investment.
The bank of diversity, Caisse d’Epargne CEPAC is implanted across a vast territory that covers 11 departments (Bouches du Rhône, Vaucluse, Alpes de Haute Provence, Hautes Alpes, Haute Corse, Corse du Sud, Réunion, Guadeloupe, Martinique, French Guiana, and Mayotte) and 3 overseas collectivities (Saint Pierre and Miquelon, Saint-Barthélémy, and Saint Martin).
Every year, Caisse d’Epargne CEPAC takes part in various sponsorship and patronage initiatives, which revolve around three areas: sports, culture, and education.
Key indicators as of 2018: €776M revenue, €3.5bn equity capital, net income: €154M net income.
Credit of the picture: Samuel Duplaix. Picture: a solar park in France
For more information
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Caisse d’Epargne CEPAC
Aline Moreau – Head of Corporate Communication
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Emilie Spagnolo-Bardin – Manager External Communication
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Madrid, December 12, 2019.- Solar PV developer Dhamma Energy has secured the environmental permits for three large solar plants in Mexico, with a combined capacity of 554 MWp.
The three projects, located in the central part of the country, now have most of the permits required for their construction and are expected to reach ready-to-build status by mid-2020.
Dhamma Energy is committed to the Mexican solar market, where it currently holds a solar portfolio of 2 GWp of projects at different stages of development.
To date, Dhamma Energy has fully developed solar plants totalling 470 MWp in Mexico, located in the states of San Luis Potosi, Guanajuato, Sonora and Aguascalientes. Most of the projects are expected to come online in 2019 and 2020.
Construction of the 119 MWp Horus solar plant began recently in Aguascalientes. The project was developed by Dhamma Energy and acquired by Canadian Solar. Dhamma Energy originated the project in 2014 and managed the development until the ready-to-build phase.
“We celebrate the advances in our solar portfolio in Mexico and the start of the construction by Canadian Solar of the 119 MWp Horus solar plant, which was developed by Dhamma Energy. We see the fruits of our work in the Mexican market, where we have been active since 2013,” said cofounder of Dhamma Energy Philippe Esposito.
The portfolio and the plants developed by Dhamma Energy correspond to projects that sell the energy produced to private companies or to the market. The Horus project is the only solar plant developed by Dhamma Energy under a public auction scheme in the Mexican market. Public renewable energy auctions took place in Mexico between 2015 and 2017.
“Mexico is already a mature market for renewable energy. Several market mechanisms enable the deployment of renewable energy, such as different PPA structures, electricity sale in the wholesale market and private auctions. We see good potential due to the drop in the price of solar energy, the increase of the demand for electricity and the need to shift to renewable energy,” added Philippe Esposito.
Dhamma Energy, headquartered in Madrid (Spain), develops and operates solar pv projects in Europe, Latin America and Africa. The main markets for the company are currently Mexico, France and Spain.
Credit of the picture: Samuel Duplaix
Picture: a solar park in France
Madrid, October 2, 2019.- Dhamma Energy celebrated last week the laying of the foundation stone of the 87.5 MWp Athies-Samoussy park, the largest solar plant in the northern France region of Hauts-de-France.
The ceremony marks the start of the construction of the project located at the former NATO airbase of Laon-Athies. Works have begun in September and will last one year.
“We can be proud to see the birth of a project of such magnitude that is going to participate in the fight against climate change”, said co-founder of Dhamma Energy Philippe Esposito.
Investment for the Athies-Samoussy solar park stands at around 70 million euros. Among the investors in the project are public and private groups.
Record for crowdfunding
The Athies-Samoussy solar park set a record for crowdfunding. The project collected 1.1 million euros through the platform Lendosphere in 25 days last July. This amount is a record for crowdfunding for a solar project awarded at national auctions in France. Only local investors participated in the gathering of funds.
The Athies-Samoussy project was a winner at two national auctions that took place last year in France.
The solar park will cover a surface area of 100 hectares at the former airbase of Laon-Athies and will provide a new use for the site. Yearly electricity production will be 93 GWh; this is the equivalent of the domestic consumption of 40.000 households.
About Dhamma Energy
Dhamma Energy develops, builds and invests in medium and large solar parks and self-consumption installations. To date Dhamma Energy has fully developed 650 MWp of solar projects, most of them located in Mexico and France and currently has a pipeline of over 2 GWp under development in Europe, Latin America and Africa. In Spain, Dhamma Energy has currently 300 MW under development. Dhamma Energy operates solar plants in France and Mauritius.
Mexico leads in renewable energy private PPAs in Latin America and Dhamma Energy is one of the largest solar developers of corporate solar projects in the country.
Renewable energy corporate PPAs keep on growing around the world. According to BNEF, procurement more than doubled last year to 13.4 GW up from 6.1 GW the year before, with the US accounting for more than 60 percent of the total world growth last year.
Corporate procurement is becoming more and more attractive for companies in order to reduce their electricity costs and to have climate friendly supply. Moreover several markets have deployed supportive regulation for corporate projects.
BNEF notes that one of the countries where clean energy corporate PPAs grew last year is Mexico. Indeed Mexico is one of the largest markets for corporate renewable energy in Latin America.
Currently, several hundreds Megawatts of corporate solar parks are under construction in Mexico. Corporate solar parks could reach 1 GW this year and account for around a quarter of the solar parks in the country.
Dhamma Energy is one of the largest developers of corporate solar in Mexico. To date Dhamma Energy has developed and sold 275 MW of corporate solar projects that are expected to go online this year.
According to Asolmex, installed capacity of solar parks reached 2.5 GW last year in Mexico -mainly projects awarded in national auctions and projects with corporate procurement under the regulation before the energy reform.
This year, installed capacity of solar parks under different regulations could reach 4 GW in Mexico.
Dhamma Energy entered the Mexican market in 2013 and over the last years has developed projects under different regulations. Currently, Dhamma Energy holds a pipeline of projects of over 1 GW in Mexico.