Neoen has announced that it has been awarded a total of 45MW of projects in the latest government auction for ground-mounted PV projects (the so-called CRE 4.5 - Commission de Régulation de l'Energie).
The 45MW total is spread over 5 wholly-owned Neoen projects, in line with the company's business model. The five successful projects will be located in the Tarn-et-Garonne, Moselle, Meurthe-et-Moselle, Allier and Landes départements. Financing through non-recourse project debt on particularly attractive terms has already been secured. Three of the projects will also use local crowdfunding. Two of them will contribute to the rehabilitation of downgraded land. Lastly, construction on three of the projects will begin this year.
Xavier Barbaro, Neoen's Chairman and Chief Executive Officer, noted: "In once again winning in this auction, Neoen has further strengthened its position as France's leading independent solar power company and has demonstrated its desire to continue to make this country a major market for our strategic development. Offering electricity produced at close to grid parity, our projects fit perfectly with the government's targets as re-confirmed in January this year in the Programmation Pluriannuelle de l'Energie (PPE – Multi-year Energy Framework). This latest success will expand our portfolio of secured projects. Neoen will continue to pursue the development of new projects in France with the same enthusiasm and rigour over the coming years."