France: Total wins 50 MW of projects in latest national solar tender
08 Mar 2021
Total Quadran, its renewable energy subsidiary in France, was awarded
50 megawatts (MW) of solar projects in the ninth round of the CRE 4 (French Energy Regulatory Commission) tender.
Total thus confirms its position as number one in solar development in France with close to 400 MW, the largest volume awarded over the last 18 months.
Most of the awarded sites will be developed on repurposed sites and will allow to redesign former industrial sites.
Total Quadran will ensure the construction, operation and commissioning of these projects by 2022. Total once again confirms its commitment to developing renewable energies in France. We are proud, through our participation in the French Energy Regulatory Commission’s calls for tenders, to participate in the transformation of the French energy landscape
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In line with its business model for the development of its renewables business, Total, through Total Quadran - its 100% renewable electricity production subsidiary in France, has farmed down respectively to Banque des Territoires and Credit Agricole Assurances half of its equity in two portfolios of renewable projects.
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In line with its business model for the development of its renewables business, Total, through Total Quadran - its 100% renewable electricity production subsidiary in France, farms down respectively to Banque des Territoires and Crédit Agricole Assurances half of its equity in two portfolios of renewable projects.
Crédit Agricole Assurances acquires a 50% stake in a portfolio consisting of nine wind farms (103 MW) and 44 solar power plants (182 MW) for a total capacity of 285 MW (100%).
Banque des Territoires takes a 50% stake in a portfolio consisting of eight solar farms located in New Caledonia with a total capacity of 53 MW (100%).
These farm-down transactions value these portfolios (close to cumulative 340 MW) at an enterprise value of around US$600 million for 100%. They derisk the Group portfolio, accelerate cash flow recognition and increase the return on equity.