De Pardieu has advised the lenders, comprising Crédit Industriel et Commercial, Caisse d’Épargne et de Prévoyance Ile de France and Bpifrance, on the financing of the public service concession contract between SIETREM, mixed syndicate for the collection and treatment of household waste in Seine-et-Marne, as grantor, and a dedicated company held by Paprec Énergies, the energy recovery division of the Paprec group, pertaining to the operation of SIETREM’s energy recovery facility located in Saint-Thibault-des-Vignes as well as the design, construction and financing of the associated optimization works.
Under this public service concession contract, the Paprec group is entrusted with the design, construction, financing and operation of SIETREM’s future energy recovery facility for a period of 26 years. It notably provides for the construction of two new furnaces aimed at modernizing the local waste treatment plant by 2031. The objective is to increase the facility’s treatment capacity to 215,000 tons of non-recyclable waste per year, which can be converted into green electricity or heat for the urban network.
To finance the implementation of this project, the concessionaire company raised non-recourse project financing in an amount of 200 million euros, co-arranged by Crédit Industriel et Commercial, which also acted as coordinating bank, Caisse d’Epargne et de Prévoyance Ile de France and Bpifrance.
Valued at 1.3 billion euros, this is the most ambitious waste recovery contract in France in recent years.