Urbasolar is accelerating its growth: in cooperation with the Crédit Agricole banking group, the Axpo subsidiary specialising in photovoltaics will build 37 new solar plants in 16 French départements. The total volume of project financing amounts to 124 million euros. This is one of the most extensive financings for new PV plants in France. Axpo is thus consistently implementing its growth strategy in the renewable energies sector.
37 solar plants with 143 MW
The 37 solar plants, which will be built mainly in the south of France, will have an installed capacity of 143 MW and will be able to cover the annual electricity consumption of 65,000 households. The first systems have already been completed and recently connected to the grid. The financing for a total amount of 124 million euros is being provided by the French banking group Crédit Agricole, its subsidiary Unifergie, which specialises in renewable energy projects, and various regional banks.
Axpo systematically focuses on renewable energies
With its subsidiaries Urbasolar and Volkswind, Axpo has strong platforms for expanding its solar and wind business. Only recently, Axpo successfully placed a Green Bond on the Swiss capital market, using the net proceeds of CHF 133 million to finance projects in the photovoltaic and wind energy sectors. Axpo is thus strengthening its position as the largest Swiss producer of renewable energies and underlining its leading role in the European wind and solar business.
However, the political and regulatory environment in Switzerland remains a challenge. Axpo welcomes the fact that the Federal Council wants to provide stronger incentives for the expansion of renewable energies with the revision of the Energy Act. For Axpo, it is crucial that Switzerland does not take a special path, but learns from its experiences abroad.
Right regulatory framework
Christoph Sutter, Head of Renewables at Axpo, explains: "France is a good example of how rapidly the expansion of photovoltaics can proceed if the regulatory framework is right. It would be desirable if we also had an environment in Switzerland that would enable us to use our extensive know-how for the construction of new solar plants". (hcn)
