Voltalia inks bundled PPA for 56-MW solar project in France

France’s Voltalia SA (EPA:VLTSA) has sealed a corporate power purchase agreement (CPPA) with French lender LCL, the retail banking unit of Credit Agricole SA (EPA:ACA), and some of its clients for the output of a 56-MW solar park at home.

Ten France-based companies, along with LCL, will procure green electricity from the project for 20 years, Voltalia said on Monday. The parties have enrolled in a multi-purchaser green CPPA programme that Voltalia and LCL initiated a year ago. The partners said at the time that this is the first initiative of its kind in France for large and medium-sized companies.

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The renewable power plants operator will develop and operate the photovoltaic (PV) park in the south of France, while LCL will provide a guarantee mechanism to ensure the solvency and proper functioning of the bundled contract over the project’s lifespan.

Specific details about the proposed solar farm were not available.

LCL’s partners in the group power purchasing will be Air France, processed vegetables producer Bonduelle, dried fruits specialist Daco Bello, kitchen and bathroom furniture retailer Groupe Fournier, flooring group Gerflor, dairy company Isigny-Sainte-Mere, packaging group Laiterie de Saint-Denis de l’Hotel, baker Menissez, waste recycling specialist Paprec and flexible composite materials maker Serge Ferrari.