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EDF has acquired a 45% stake in a french agrovoltaic developer.
- EDF aims to achieve 30GW of solar projects by 2035.
- There has been an increase in agrivoltaic project across Europe in recent year.
In collaboration with Macquarie’s Green Investment Group, EDF Renewables has acquired a French agrovoltaic developer Green Lighthouse Development (GLHD). With the acquisition, EDF and Cero Generation will each own a 45 per cent equity stake in GLHD, with 10per cent being owned by the company’s founders. The company, which has a 2.4GW solar portfolio, colocate agricultural production with solar energy production.
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Cero Generation, a Macquarie’s Green Investment Group company, believes that with France’s huge solar energy targets, agrivoltaic projects can help meet those goals while enabling food production and increasing farmers’ revenue streams. This acquisition puts the EDF Group on track to achieve its Solar Power Plan. The company plans on increasing its Solar PV capacity in France to 30GW by 2035.
There has been an increase in the number of agrivoltaic projects developed across Europe. In the Netherlands, Baywa re have expanded a solar PV plant to help protect fruit plants from extreme weather. Enel Green Power is working with universities and research institutions in southern Europe to integrate farming activities alongside large-scale PV projects in southern Europe.