French state-owned power utility EDF and UK-based renewable energy developer Cero Generation, a unit of Green Investment Group (GIG), which is itself part of Australia-based venture capital fund Macquarie, have each acquired a 45% stake in France-based agrivoltaic specialist Green Lighthouse Development (GLHD) for an undisclosed sum.
EDF said the transaction was made through a private share placement and that GLHD's founders will maintain a 10% share in the company, which currently owns an agrivoltaic project portfolio in France of around 2.4 GW.
“EDF Renouvelables enthusiastically welcomes the prospect of investing in Green Lighthouse Development, a company ideally positioned to make the most of the emerging agrivoltaic market,” said Nicolas Couderc, Director France of EDF Renouvelables. “The shared experience of Cero Generation and EDF Renouvelables will help GLHD to become a major player in agrivoltaics in France.“
Cero Generation has a PV portfolio of 8 GW spread across 150 projects located in the U.K., Italy, Spain, Poland, France and the Netherlands.
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