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 will play a key role in the continent’s energy transition.
Largest Floating PV in Europe
Securing €50.4 million in financing marks a major milestone for Q Energy’s ambitious project.
floating PV project
Once operational, the 74.3 MW floating solar power plant is expected to prevent approximately 18,000 tons of CO2 emissions annually.
The financing was arranged by two major banks—Crédit Agricole Transitions & Energies, through its financing arm Unifergie, and Bpifrance. This funding is a critical step toward the project’s completion.
Floating PV: A Revolutionary Technology
Floating PV technology involves placing solar panels on water surfaces rather than on land. This approach has several benefits, including conserving land space and improving panel efficiency due to the cooling effect of water. These benefits make floating PV systems an increasingly popular choice for renewable energy developers.
In this case, Q Energy’s project will cover 127 hectares of water at a former gravel pit in the Haute-Marne department of northeastern France. The plant will consist of 134,649 solar modules mounted on specialized floating platforms.
These panels will generate enough clean electricity to power 37,000 homes, providing vital green energy to local communities.
Construction began in September 2023 and is scheduled to take 18 months to complete. Pre-commissioning of the floating solar array is expected in the first quarter of 2025.
Funding of the Floating PV Project
The success of Q Energy’s floating solar project is backed by strong financial partnerships. Crédit Agricole Transitions & Energies and Bpifrance were critical in securing the €50.4 million needed to fund the development and construction. Their support underscores the growing confidence in renewable energy 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 plant will be a landmark achievement in Europe’s renewable energy landscape. The project in Haute-Marne highlights the growing potential of floating PV technology to become a vital component of the region’s clean energy future.
It also showcases the scalability of these systems to contribute to energy security and sustainability across the Europe floating solar panels market.
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.”
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 plant is poised to set new standards for solar energy production.
