Pontpierre, France, November 28th, 2023 – FDE (Euronext: FDE – ISIN: FR0013030152), a carbon negative energy producer, announces that its subsidiary Gazonor has just received support from Arkéa Banque Entreprises et Institutionnels, a subsidiary of the Crédit Mutuel Arkéa group, with an ESG “Impulse” loan of €5.8 million.
This funding is dedicated to 100% ESG transition projects, covering the Group’s needs and accelerating its growth strategy
Gazonor is the main producer of gas and green electricity from abandoned mine methane (AMM) in France and Belgium. Through its 4 sites dedicated to AMM capture and electricity production, the Group valorizes this fatal gas in the former mining basins of Hauts-de-France.
Highly committed to environmental transition, FDE provides economically and ecologically competitive energy to residents, communities, and industries in the regions where the Group operates. FDE thus helps avoid more than 3.5 million tons of CO2eq per year, with a portfolio of 22.5 MW of installed electrical capacity, confirming its key role in the ecological transition of these countries. The goal by 2026 is to increase the installed capacity of electricity production to up to 100 MW and significantly contribute to carbon emissions reduction by avoiding the release of more than 10 million tons of CO2eq per year.
In line with its ESG approach, FDE has subscribed to an “Impulse” loan of €5.8 million from Arkéa Banque Entreprises et Institutionnels to strengthen its subsidiary’s activity through the refinancing of 4 cogeneration units in Lens and Avion with a total capacity of 6 MW. The funds can be deployed by the Group for its growth.
“Impulse” is based on a methodology and indicators that measure the positive impact of well-identified environmental and societal transition projects. The “Impulse” loan targets 42 transition objectives, each with an associated eligibility indicator. This methodology undergoes an annual review by an external third-party to ensure selection in line with transition challenges and market standards.
This loan also allows the Group to benefit from a reduced margin, in a sustained interest rates’ environment. This reduction is partially financed by the support of the “Kéréa Terme Impulse” investment, where investors seek both yield, security and ESG commitment.
A long-term partnership aimed at reducing France’s carbon footprint
Julien Moulin, President of FDE, declares: “The selection of our company for the Arkéa Banque Entreprises et Institutionnels ESG ‘Impulse’ loan reflects the strength of the Group’s development projects, the quality of its assets, and the tangible contributions to the economic, ecological, and social levels of FDE’s activities. The ambition and success of our Group allow us to obtain competitive long-term financing, achieve economies of scale, and partner with legitimate investors in the territories where the Group operates, such as Arkéa Banque E&I, to accelerate our growth strategy and consolidate FDE’s size and position as a producer with a negative carbon footprint.”
Romain Loiodice, Director of the Lille Business Center at Arkéa Banque Entreprises et Institutionnels, emphasizes: “We are particularly proud to accompany a major player in the energy transition like FDE. After being pioneers in democratizing impact credit, we have implemented a comprehensive ESG system and strengthened our offer with the ‘Impulse’ loan, entirely based on ESG criteria and the non-financial performance of a project. Our ambition, by 2024, is to allocate 50% of our annual production of medium-to-long-term credits to transition projects or structures committed to an ESG approach. The support of FDE is a perfect illustration of this and an example to follow.”
Partnership discussions are also ongoing for other project financings of the Group.
FDE confirms its FY 2026 objectives of annual revenues of more than €100 million, and an EBITDA above €50 million, combined with over 10 million tons of CO2eq emissions avoided per annum
General Assembly Meeting FY2023: November 30th, 2023