French Photosol readies EUR 500m sale - report

Photosol solar plant in Verneuil, France. Image source: Photosol.

October 20 (Renewables Now) - French solar power developer Photosol SAS has approached potential buyers for the business, which is estimated to be worth a minimum of EUR 500 million (USD 582.8m), two unnamed sources said as cited by Reuters on Tuesday.

Photosol is working with BNP Paribas (EPA:BNP) and has already sent off initial information to third parties under a project dubbed POTUS, the news agency reported after gaining access to an unofficial document.

According to the document, the company plans to reach 431 MWp of solar plants in operation at home next year. It expects to commission 3.2 GWp of capacity over the next six years. In addition, Photosol reportedly has a pipeline of US projects for a total capacity of 8.4 GWp including storage.

Preliminary offers could be tabled as early as next week, according to the report.

Set up in 2008, Photosol is active in the development, funding, construction supervision and operation of solar photovoltaic plants, through three separate subsidiaries. It has a total of 34 operational and under-construction solar parks in France, one in Martinique in the Caribbean and three on the Indian Ocean island of La Reunion, its website shows.

(EUR 1 = USD 1.166)

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