Enercoop far exceeds its fundraising target and raises more than 9 million euros

A fundraising campaign to support citizen energy

In order to support the development of the cooperative, this fundraising campaign aimed to raise 6 million euros. Distributed among the 13 cooperatives in the Enercoop network, it allowed anyone who wished to participate to purchase shares (capital shares of the cooperative), or participatory securities (securities that strengthen the cooperative's equity without changing the capital structure).

Fundraising results

The target of 6 million euros was largely exceeded by more than 156%. Enercoop Nationale thus raised 3,2 million euros, and fulfilled 108% of its objective.

For its part, Enercoop Auvergne-Rhône-Alpes is the cooperative that is raising the most investment, reaching 382% of its initial target, i.e. more than 2 million euros, closely followed by Enercoop Midi-Pyrénées with more than one million euros (344% of the initial target), then Enercoop Pays de la Loire with 650.000 € (217% of the target).

According to Béatrice Delpech, Deputy Managing Director of Enercoop: “We are proud and happy to see that 20 years after its creation, the Enercoop model continues to bring together more and more men and women eager to regain control over their energy and contribute to a just energy transition.”

What will the funds raised be used for?

With this fundraising, Enercoop intends to continue developing solar and wind farms, in order to strengthen the production of renewable and community-owned electricity by cooperatives. This "own" production currently represents 6% of the electricity supplied by Enercoop, and the ambition is to reach 25% by 2030.

Furthermore, this fundraising aims to strengthen Enercoop's equity to increase its borrowing capacity, enabling it to enter into long-term contracts with renewable energy producers. These contracts (known as Power Purchase Agreements or PPAs) secure a supply of renewable electricity for periods of 25 to 30 years at a predetermined cost linked to the cost of production. They currently represent 30% of the supply for residential and small business customers. Finally, Enercoop will continue to improve the quality of its services to its customers by investing in digital tools.

Thanks to its cooperative model (SCIC), Enercoop is currently the only national electricity market operator that does not pay shareholders and whose governance is shared between employees, producers, and consumers. This is how the cooperative succeeds in mobilizing all stakeholders involved in energy production and consumption—local authorities, residents, and businesses—around its projects throughout France.