January 27 (Renewables Now) - French solar project developer and power producer Photosol SAS has set up a joint venture (JV) with compatriot Aedes Energies to develop over 200 MWp of photovoltaic (PV) schemes at home.
The establishment of the new entity was announced on Wednesday by law firm Watson Farley & Williams, which acted as Photosol’s advisor.
Dubbed Aedes-Photosol Developpement, the new entity will work on projects located in the regions of Nouvelle Aquitaine and Occitanie. While Aedes Energies will take care of all project development activities and will obtain the needed permissions, Photosol will be responsible for the projects’ technical and financial optimisation and connection.
The partners’ goal is to reach commercial operations of the first projects in 2024.
Photosol, in which French energy company Rubis SCA (EPA: RUI) in December agreed to take an 80% stake, has more than 400 MWp of solar capacity in operation and under construction in France, while its projects under development in France and the US exceed 11 GWp. Aedes Energies, meanwhile, has a portfolio of more than 800 MWp, which is under development.