December 8 (SeeNews) - Investment group Omnes Capital and geothermal power developer Fonroche Geothermie have signed a partnership agreement for the development, construction and operation of deep geothermal energy generation projects in France.
Having obtained seven exclusive operation permits in France, Fonroche Geothermie is planning to invest more than EUR 400 million (USD 434m) in the geothermal energy market between now and 2025.
“We are very happy to be working with Fonroche in geothermal energy. This partnership agreement follows on from the joint successes already achieved in the solar energy sector,” Serge Savasta, managing director at Omnes Capital, said in a statement.
Omnes Capital launched Capenergie, its first fund in the field of renewable energy, in 2006. Since then, it has realized more than 30 investments in France and Europe in wind, solar, hydroelectricity and district heating projects from renewable sources like geothermal and biomass energy, representing over 1,500 MW of installed capacity.
(EUR 1 = USD 1.084)