Neoen Wins 45 MW Solar Capacity In France

Neoen Wins 45 MW Solar Power Capacity Development Rights In French Ground-Mounted PV Auction Round CRE 4.5; Plans Construction On 3 Out Of 5 Projects In 2019
07:21 PM (Beijing Time) - 07. March 2019

Neoen will be the sole owner of the 45 MW capacity it will develop in France, won under the French CRE 4.5 tender. Pictured is Neoen’s 128 MW DC/100 MW AC Mumurkah solar power project currently under development in Australia that’s expected to become operational by May 2019. (Photo Credit: Neoen/LinkedIn)

Key Takeaways

  • Neoen of France has won 45 MW of total ground mounted solar power capacity under the country’s CRE 4.5 auction round
  • It will be deployed in the form of 5 projects in the departments of Tarn-et-Garonne, Moselle, Meurthe-et-Moselle, Allier and Landes
  • These wholly-owned projects will be financed through non-recourse project debt that the company says it has already secured; local crowdfunding will also be explored
  • Out of the 5 projects won, Neoen plans to break ground on 3 within 2019

French renewable energy company Neoen says it has won 45 MW of solar power capacity in the latest French auction for ground-mounted PV projects under Commission de Regulation de l’Energie (CRE) 4.5. Neoen will hold complete ownership of the 5 projects it will develop to install this 45 MW.

Financing for the project has already been secured through non-recourse project debt on ‘particularly attractive terms’, and 3 of the 5 projects will also be funded through local crowdfunding. Two of the projects will help in rehabilitation of downgraded land.

The projects will be located in the French departments of Tarn-et-Garonne, Moselle, Meurthe-et-Moselle, Allier and Landes. Neoen plans to break ground on 3 projects in 2019, however it hasn’t identified where.

“Offering electricity produced at close to grid parity, our projects fit perfectly with the government’s targets as re-confirmed in January this year in the Programmation Pluriannuelle de l’Energie (PPE – Multi-year Energy Framework). This latest success will expand our portfolio of secured projects. Neoen will continue to pursue the development of new projects in France with the same enthusiasm and rigour over the coming years,” said Neoen’s Chairman and CEO, Xavier Barbaro.

The French company is aiming to have 5 GW of renewable capacity in operation and under construction by 2021, increasing from the current capacity of more than 2 GW now.

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews

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Anu Bhambhani