Ahead of meetings on global warming, executives recognize the need to show they are acting to pare energy use and emissions.
Solar farms are increasingly common, but they depend on the sun. A new technology harvests that energy so it can be sold when prices are high.
The government argued that the industry, which includes solar power plants and wind farms, could survive without the support.
The solar energy provider, which develops, manages and invests in facilities in France and several other countries, plans to raise about $195 million by next summer.
With the economy already poised for decline, Moscow is unlikely to want to cut supplies to Europe, despite tensions over Ukraine.