Eurazeo invests another €15m in Fonroche

This is part of a €50m investment announced by Eurazeo in June 2010 - the fund had initially invested €25m in Fonroche, with the aim of injecting a further €25m before the end of 2011.

In addition to the equity tranche, Fonroche was also granted a €52m credit line by a Crédit Agricole-led banking syndicate.

The extra capital will enable Fonroche to build 20 MW of photovoltaic greenhouses in France. The company is also negotiating the construction of photovoltaic plants abroad.

Founded in 2007, Fonroche is a renewable energy company that designs and fabricates photovoltaic panels. It also provides turnkey installation of building-integrated photovoltaic systems for professional clients.

The Rochefort sur Mer-based company employs 280 staff and should post a €100m turnover for the 2010 fiscal year (compared to €30m for the previous year).

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