EDF Renewables in Process to Purchase France’s Solar Energy Firm Luxel Group

EDF Renewables announced that it has got into exclusive talks to obtain French independent solar energy player Luxel Group. Luxel has a portfolio of about 1GW in gross capacity in operation, set to build or under development. The deal is projected to accelerate the development of EDF Renewables its solar energy space in France.

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

Currently, 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.

EDF Group’s Renewable Energies Senior Executive Vice President and EDF Renewables CEO Bruno Bensasson believed: “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.”