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Home Sector Energy 37 Solar Plants to be built in France by Axpo Subsidiary Urbasolar.

37 Solar Plants to be built in France by Axpo Subsidiary Urbasolar.

Axpo Holding, a Swiss company recently released statements claiming that its subsidiary, Urbasolar is bound to develop 37 new solar plants across the 16 French states in a bid to boost its growth in France. they plan to work with French bank Crédit Agricole’s subsidiary Unifergie which specialises in renewable energy projects and various regional banks, to finance the projects that amount to US$165.5 million, making this among the most expensive projects for solar PV systems in France. In their statement, Axpo Holding explained that a majority of the solar plants will be built in Southern France and will have a total capacity of 143 MW that will be able to supply electricity to over 60,000 households across the nation.

Axpo reassured that they have strong platforms such as Urbasolar and Volkswind that cater to the solar and wind expansion plans they have for the future. Just recently, Axpo successfully placed a green bond on the Swiss capital market with net proceeds amounting to US$144 million. Said capital will be used to fund projects in the photovoltaic and wind energy sectors. In doing so, Axpo is strengthening its position as Switzerland’s largest producer of renewable energies and reinforcing its leading role in the European wind and solar business.

Also Read: France begins construction of world’s largest nuclear fusion project. 

Christoph Sutter, Head Renewables at Axpo, explains “France is exemplary in terms of how rapidly the expansion of photovoltaics can go forward when the regulatory framework conditions are right. It would be great if Switzerland also had an environment that enabled us to use our extensive know-how in the area of solar plant construction.” Urbasolar has been a subsidiary of Axpo since 2019 and counts among the most important companies in the solar energy industry in France. The company with headquarters in Montpellier currently operates solar plants with a total capacity of 350 megawatts. The pipeline holds additional plants with a capacity of 1700 megawatts.

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