France's Terre et Lac Solaire has obtained financing to expand its solar capacity by 55 MW.

French independent renewable energy producer Terre et Lac Solaire Group has secured EUR 70 million (USD 79.7m) in debt for the construction of 55 MW of solar parks in metropolitan France.

The initiative plans to build a total of 80 photovoltaic (PV) farms, all expected to be operational by the end of next year, according to the Lyon-based company. This capacity includes rooftop systems, carpark installations, and ground-mounted plants.

The debt financing was arranged by Caisse d'Epargne Rhone Alpes and Caisse d'Epargne CEPAC.

Founded in 2009, Terre et Lac Solaire operates over 800 solar plants in France and has approximately 800 MWp of projects in its development pipeline. Supported by French infrastructure investment and asset management firm Infranity, the company aims to achieve a 1-GWp portfolio by the end of the decade.

The financing agreement is reported to be Terre et Lac Solaire's largest bank deal to date.