Compelo Energy - Latest industry news and analysis is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More

EDF Renewables in talks to acquire solar energy firm Luxel Group

EDF Renewables announced that it has entered into exclusive talks to acquire French independent solar energy player Luxel Group.

Luxel has a portfolio of about 1GW in gross capacity in operation, ready to build or under development. The deal is expected to accelerate the development of EDF Renewables its solar energy space in France.

EDF Renewables also aims to leverage the additional resources brought by the Luxel acquisition to execute its Solar Plan, under which it has a target of reaching 30% market share in solar energy in the country between 2020 and 2035.

Presently, EDF has an operating portfolio of more than 100 onshore solar and wind energy facilities, totaling 1.8GW in its home country and about 230MW in solar energy.

Luxel owns 90MW solar plants has a portfolio of about 900MW projects in various stages of development. The company operates from six development offices, with its headquarters in Pérols.

EDF Group’s renewable energies senior executive vice president and EDF Renewables CEO Bruno Bensasson said: “The acquisition of Luxel, a renowned independent specialist in France’s solar energy segment, represents a very good growth opportunity for EDF. Bringing the two companies and their teams together will allow us to accelerate our development in solar energy in the country.

“This industrial and human project will contribute meeting the objectives laid down in EDF’s Solar Plan and the French multiannual energy programming. It fits with the Cap 2030 strategy, under which EDF aims to double until 50 GW nets, its renewable energy capacity in France and worldwide between 2015 and 2030.”

In January, EDF Renewables was selected by the New York State Energy Research and Development Authority (NYSERDA) to construct the 212MW Morris Ridge solar project.

The contract was secured as part of the 2018 Renewable Energy Standard Solicitation. The solar project will be located in the Town of Mount Morris, south of the Village of Mount Morris and is expected to come online by the end of 2022.