Société Générale Corporate & Investment Banking ( SGCIB ) has provided a €63 million ( US$68 million ) financing package to Waat, a leading provider of electric vehicle recharging facilities in France. This includes an uncommitted €25 million accordion facility.

Société Générale acted as mandated lead arranger, original lender, original hedging bank, facility agent, security agent, intercreditor agent, and account bank. Orrick represented SGCIB.

The financing will enable Waat to accelerate its rollout more flexibly and efficiently and increase its presence in the home charging sector, the bank says.

Waat is well established in the collective residential and tertiary markets, and has installed more than 10,000 facilities as of end-2024.

The company aims to sign contracts with about 30,000 apartment blocks and install 250,000 charging points over the next five years.