German independent power producer Clearvise AG has bought a majority stake in a 33-MW solar project with a shovel-ready status in France’s Nouvelle-Aquitaine region.
The interest was sold by developers LNF Solar Development GmbH and Frank Menschel, Clearvise said on Wednesday without disclosing the size of its investment.
The German firm and the original project developers will set up a joint independent power producer (IPP) company to install and operate the photovoltaic (PV) park. With building works planned to be launched this year, the plant is due to be commissioned in the first half of 2024.
In addition to the 33-MW project, Clearvise has signed a cooperation agreement concerning the French developers’ 100-MW development pipeline, planning to apply the same model to implement the schemes.
“With this cooperation, we can successfully diversify the portfolio technologically towards solar photovoltaics in France as one of our most important core markets,” said Petra Leue-Bahns, CEO of Clearvise.
Berlin-based Clearvise has more than 300 MW of renewable energy assets in its operational fleet. The company is looking to further expand its portfolio through partnerships in different countries and said it is “continuously exploring further opportunities” to facilitate the growth plan.