Making an early move to capture enough market share in the growing agrivoltaics space of France, EDF Renewables has decided to acquire 45% stake in an agrivoltaics project developer Green Lighthouse Development (GLHD) that has a 2.4 GW under development capacity. Alongside EDF Renewables, Cero Generation too will acquire 45% stake in the company.
Both the companies will join forces to support the implementation of GLHD's 2.4 GW capacity.
Cero Generation was launched by Macquarie's Green Investment Group early this year with an 8 GW strong solar development portfolio (see GIG Launches Cero With 8 GW Solar Development Portfolio).
GLHD uses agricultural spaces to develop renewable energy solutions targeting production of low-carbon electricity and sustainable agricultural practices in France, a country that aims to install a maximum of 44 GW of solar capacity by 2028. EDF Renewables, under the EDF Solar Plan, wants to have a market share of 30% by 2035 in France.
To meet these ambitious renewable energy objectives and the search for land, the trio explained, the shared use of agricultural land and the coexistence of uses is becoming a growing issue.
"France has a very ambitious solar energy program. Agrivoltaics projects make it possible to realize this ambition, while supporting agricultural production and providing the agricultural profession with additional sources of income," said Cero Generation's CEO Nikolaj Harbo.
Expressing its growing interest in agrivoltaics, EDF Renewables said it is developing innovative technological solutions for solar installations while exploring agricultural space, and referred to a Charter of Best Practices it signed with the FNSEA and the French Chamber of Agriculture to develop ground-based PV projects on agricultural land.
In November 2020, RGreen Invest and Sun'Agri said they plan to raise €1 billion to deploy solar panels for 300 agricultural farms in France to help improve yield and deal with climate change (see €1 Billion To Be Mobilized For Agrivoltaics In France).