French energy giant EDF has completed the acquisition of France-based solar company Luxel for an undisclosed sum. With this transaction, the utility — which entered into exclusive negotiations with Luxel Group shareholders in mid-February — said that its renewable energy arm, EDF Renewables, will increase its operational PV portfolio in France by 130 MW to 320 MW. The unit's pipeline of projects under development has jumped to 900 MW.
Luxel is headquartered in Pérols, in southern France's Occitanie region, but also has six more offices throughout the country. “Luxel has built and commissioned over 40 projects with installed capacity ranging from 500 kW to 17 MW and has managed over the past 10 years the engineering and construction of over 500 MW in capacity in France, French overseas territories and Morocco,” EDF said.
“This transaction is also perfectly aligned with the group’s Cap 2030 strategy of doubling its installed renewable energy capacity around the world between 2015 and 2030,” said Bruno Bensasson, the CEO of EDF Renewables.
In December 2017, EDF announced plans to install 30 GW of solar between 2020 and 2035. In March 2018, it said it also aimed to become a storage market leader in Europe. Its goal is to deploy around 10 GW of storage capacity by 2035, with an investment of around €8 billion.
In the context of this new strategy, the company announced a plan to expand its activities in the African off-grid market in January. It has also entered China’s rooftop solar market, while investing in solar-related blockchain projects and floating PV systems.