The French PV plant developer and operator, Redan Solar (formerly known as Fonroche Solaire), a subsidiary of France-based investment companies InfraVia and NYSE-listed Eurazeo, announced it has signed a 10-year aggregation contract with France-based renewable energy provider, CNR.
Under the terms of the agreement, CNR will act as an aggregator for around 50 MW of new PV capacity that will be deployed in France each year through various projects, such as PV greenhouses, parking shades or ground-mounted power plants.
All of these projects, Redan Solar said, are related to the most recent solar tenders held by the French government. Initially, CNR will act as an aggregator for around 17 MW of PV power, which is planned to be connected to the French grid next summer.
“We consider that the adoption of this system is a positive thing for the PV industry of our country. This makes the industry more professional and prepares us for global competition because the system in which the electricity tariff is guaranteed is disappearing. This is a smooth transition to greater maturity that we believe is beneficial,” said Redan Solar president, Thierry Carcel.
The current FIT system granted by the French tenders is granting a complementary remuneration to the average monthly EPEC SPOT prices.
“We are proud of the trust of Reden Solar. We will help them optimize the value of the electricity produced by their plants,” said CNR’s director, Pierre-Jean Grangette.
In March 2017, Eurazeo revealed that Reden Solar had secured contracts to build 88 MW of PV installations under France’s third bidding round for PV projects exceeding 250 kW.