15 Vectron dual-mode locomotives have been purchased from Siemens Mobility. Credit: RIVE.

French private investment company RIVE has secured €300m ($328m) financing to purchase 55 new locomotives to bolster its European leasing activity.

RIVE said the capital was provided by a banking consortium, including large French banks Crédit Agricole and Société Générale.

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The order for 55 locomotives includes units from three different manufacturers.

15 Vectron dual-mode locomotives manufactured by Siemens Mobility, 20 Traxx MS3 locomotives manufactured by Alstom, and 20 Modula EBB hybrid locomotives manufactured by Vossloh.

The Vectron locos can operate as diesel or electric modes while the Traxx trains will be made available to operating companies in six European countries, including France and Germany.

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The locomotives will be delivered between 2024 and 2026, and managed by RIVE’s rolling stock partner Northrail.

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RIVE private investment partner Camille Brunel said: “The rail sector plays a special role in the development of an environmentally friendly mobility and transport offering. It faces colossal financing needs for the renewal and maintenance of asset fleets, making it a particularly attractive segment for banks and investors.

“This operation with our banking partners marks a strategic step in the development of our impact transport asset portfolio.”