Galileo buys 20% of French solar developer Mozaik Energies
Solar panels in France. Photo by: BayWa re renewable energy GmbH (www.baywa-re.fr).
Pan-European renewable energy developer Galileo Green Energy GmbH has acquired a 20% stake in French solar project developer and plant operator Mozaik Energies and will jointly invest in France’s utility-scale solar sector.
The two companies intend to develop, build, and operate a pipeline of ground-mounted photovoltaic (PV) projects across France, focusing on the northern parts of the country. The projects will be “high-quality and highly competitive,” the duo said on Wednesday.
As part of the collaboration, Galileo and Mozaik will deploy several financial instruments to support the long-term growth Mozaik. Their goal will be to promote the diversification of the electricity mix and support France in its efforts to enhance its energy independency and lower costs for consumers.
Galileo’s investment marks the company’s entry into the French market. Earlier this month, the pan-European firm teamed up with solar energy start-up Enviria Solar GmbH to develop solar parks across Germany with the ambition to add about 1 GW of projects to its pipeline annually.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.