News Article
Mitsubishi announce first solar power project in France
Mitsubishi Corporation has announced its intention to acquire a 50% stake in Toul"“Rosières solar power plant tranche 1 (55MW), from EDF Energies Nouvelles (EDF EN), who owns the remaining 50%. The project has been developed and built by EDF Energies Nouvelles, and operation and maintenance services are managed by one of its subsidiary. EDF Energies Nouvelles (EDF EN) is 100% owned by French electric utility EDF.
EDF EN has developed renewable power plants all over the world. Toul-Rosières solar power plant is installed on a former NATO military airbase (total 522 ha) located close to Nancy in the Meurthe-et-Moselle department of eastern France, with a 115 MW total capacity. It was completed in May, 2012 and started operation in June 2012. Toul-Rosières power plant tranche 1, with an installed capacity of 55 MW, benefits from a 20-year Power Purchase Agreement (PPA) with EDF.
Mr. Emmanuel Jaclot, Executive VP for Strategy, M&A and DSSA, at EDF EN comments that "The collaboration with Mitsubishi has been very successful on Toul. We believe it is a key milestone in the development of our partnership."
Mr. Nobuaki Kojima, Executive Vice President of Mitsubishi comments that "˜We made the great first step and this transaction creates a prosperous partnership between EDF EN and Mitsubishi. We are quite satisfied to be with a strong partner in France and we will ensure to expand our collaboration.'
Under the expectation that Europe moves towards the integration of cross-border transmission network and keeps unchanged commitment to CO2 reduction, the expansion of renewable energy with its efficient operation should keep accelerating. With targeting further expansion of the power generating assets in Europe, in addition to the existing solar power generating assets in Spain and Portugal, Mitsubishi aims to continue to promote solar power generation projects not only in France, but also in the southern Europe. Mitsubishi will target to establish the operation know-how through the operation of those assets.
