December 12 (Renewables Now) - French renewable power producer Albioma SA (EPA:ABIO) today said it has acquired solar developer Eneco France, part of Dutch energy company Eneco.
The acquisition target is involved in the development, construction and operation of solar photovoltaic (PV) plants, mostly rooftop, in southern France. It has an installed capacity of 17 MW in its portfolio, plus a “strong” portfolio of under-development projects, according to the press statement. The company’s assets also include a 500-kW hydropower plant.
Albioma said the acquisition will enable it to expand its business in metropolitan France, adding to its 8-MW fleet of operational solar assets. Financial details and terms of the deal were not provided.
The French firm, which operates solar PV and biomass plants, has set a goal to lift the share of renewables in its energy mix to 80% by 2023.