December 16 (Renewables Now) - French renewable energy producer Cap Vert Energie (CVE) has closed the acquisition of 21 MW of solar assets at home from UK-based RES Group.
CVE has become owner of one operational photovoltaic (PV) plant near Nimes, which was commissioned in July 2018, as well as four shovel-ready projects. The portfolio is located in the regions of Occitanie and Brittany, RES said on Thursday.
All of the five projects were developed by the UK group and were selected in France’s CRE4 tender in 2018. Their sale is part of RES’ strategy to become solely an operator and manager of renewable power plants on behalf of its clients instead of being the owner of the assets. The company noted it will continue to develop and build projects in addition to providing asset management services.
The acquisition, carried out in partnership with RGReen, is in line with CVE’s goal to have 1.7 GWp of installed capacity by 2024.