Arnaud Defrance
Director, Transactions

Profile
Arnaud Defrance currently leads the transaction advisory at Etha, bringing a wealth of experience in climate investment and advisory as well as project financing.
His career spans investment banking, impact funds, advisory roles, and market making. Arnaud’s core strengths are his creativity and financial innovation, which he leverages to enable significant climate impact. As a former impacts investor, he has advised numerous renewable energy and durable carbon removal projects on transactions.
With a proactive and adaptive approach, Arnaud enjoys helping clients navigate the transaction process ensuring a smooth execution while consistently achieving favorable outcomes. Over the years, he has built a global network of climate investors and project owners, cementing his reputation as a key contributor in the climate finance sector.
Arnaud is fluent in English, Spanish, and French. Even though he has a good understanding of Finnish, he prefers negotiating in his strongest languages. Arnaud also has a basic knowledge of Swedish and Portuguese.
Education
2010 M.Sc. Business, Finance
EDHEC Business School (ex: Hanken, TEC de Monterrey)
2021 Sustainable Finance
Stockholm School of Economics Executive Education
2021 Certified Environment, Social & Governance Analyst
EFFAS – European Federation of Financial Analyst Society
Key References
Lead advisor for Carbon Dioxide Removal companies
Puro.earth, 2021-2024
Tallink restructuring post covid
Nordic Investment Bank, 2020
Funded the first solar PV plant in El Salvador 100MW
Finnfund, Investment Manager 2017
Lead arranger for Suomen Hyötytuuli wind parks expansion including the world’s first offshore wind farm in frozen sea conditions in Tahkoluoto
Nordea Markets, Associate Director 2014
Work Experience
2024 – ongoing
Director, Transactions Etha Oy
2021 – 2024
VP, Head of Carbon Removal Funding Advisory, Puro.earth
2018–2021
Senior Client Executive, Project Finance, Nordic Investment Bank
2016-2018
Investment Manager, Finnfund
2013–2016
Associate Director, Nordea
2010–2012
Associate, Credit Agricole CIB