Everoze supports Mirova in the acquisition of a stake of solar developer Corsica Sole

Published April 2021

Everoze was delighted to advise the asset management firm Mirova on the acquisition of a minority stake in the Solar energy producer, developer, and storage operator Corsica Sole. Corsica Sole develops and operates projects throughout France with a strong market position in Corsica and on the French non-interconnected islands. Its main business lines are development of solar, solar plus storage and solar powered electric vehicle (EV) charging stations through its subsidiary DRIVECO. The company has nearly 100 MWp of PV power in operation and almost 50 MWh of power plants with energy storage. Corsica Sole is developing a portfolio of projects of almost 1GW for the years to come.

Fabien Villacampa, Investment Director at Energy Transition Funds of Mirova mentions: “We would like to thank Everoze warmly for the “all-in” and assiduous support on all fronts on a scope like no other, which will have encompassed solar + storage and EV, purely technical and commercial, to which you have responded on all fronts!”

Everoze used its industry leading Due Diligence on Demand process, ensuring a robust risk assessment, smooth communication, and continuous identification of open or risk items. The work was delivered via LiveDiligence, providing earlier access to the review findings. Everoze’s scope of work included techno-economic review of inputs into the financial model for the solar and storage portfolio in operation, under construction and under development, as well as for the solar powered EV charging station business. This work was provided alongside a high-level technical review of DD permits, grid, land, technology, design, environmental constraints, energy yield analysis, tariffs and contracts.

Everoze’s work was led by Ragna Schmidt-Haupt supported by a broader project team including Christophe Campistron, Alexia Chappond, Siobhan Green, Rob Such, Paul Gardner, Bruno Menu and subcontractors Abies and Jigrid. For more details, Mirova’s press release is available here.