Combining Recurrent Energy’s global experience in the financing and engineering of distributed PV power plants with BlueWatt’s local expertise in managing infrastructure projects in France will provide building owners with options to lease out and utilize their unused rooftops as sites for solar power systems.
Karl Knight, managing director of international development at Recurrent Energy, said: “This joint development agreement allows both Recurrent Energy and BlueWatt to bring many rooftop distributed-scale solar power opportunities to France.
“We are committed to assisting the growth of the French solar market and playing a role in that market that allows us to work with a select group of high quality early stage developers in order to bring their pipelines to maturity.”
Under the terms of the agreement, BlueWatt will seek to develop and co-invest in rooftop based solar power projects with major real estate firms in France. Recurrent Energy will finance, own and operate the solar power systems once appropriate contracts are in place.
The renewable electricity generated by the distributed power plants will be fed back into the local utility grid, for which Recurrent Energy will be paid a feed-in tariff in accordance with French regulation. The companies said that they are committed to working together on the first 50MW of joint projects secured.
