EDF Renewables is in talks to acquire French solar energy outfit Luxel Group, which has an operational, ready-to-build and development portfolio of about 1GW.
The deal aims to accelerate EDF’s development of photovoltaic capacity in France, the company said.
EDF added that the transaction would also allow it to leverage additional resources to execute its solar plan, which aims to achieve a 30% market share in PV in France between 2020 and 2035.
The company currently owns about 230MW of solar in France out of 1.8GW of renewable capacity in the country.
Luxel owns solar plants totalling close to 90MW gross capacity, operates around 130MW, mainly in the south of France, and has a portfolio of around 900MW at various stages of development.
It also has a team of approximately 40 photovoltaic specialists split across six offices and its headquarters at Perols in the Herault region of France.
EDF said: “A preliminary agreement opening a period of exclusive talks with the shareholders of the Luxel Group has been entered into with the objective to reach a final agreement on the acquisition by EDF Renewables of the entire share capital of the Luxel Group.”
EDF Renewables chief executive 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 50GW nets, its renewable energy capacity in France and worldwide between 2015 and 2030.”
Luxel president Bruno Spinner said: “We are delighted with the contemplated project of joining forces with EDF Renewables.
“It would enable to generate a major player in the field of photovoltaic energy , both in France and worldwide.”