Mitsubishi buys 50% stake in EDF’s solar plant

Japanese technology giant Mitsubishi has agreed to buy a 50% stake in a French solar plant from EDF Energy’s renewable arm. EDF Energies Nouvelles (EDF EN) developed and built the […]

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By Priyanka Shrestha

Japanese technology giant Mitsubishi has agreed to buy a 50% stake in a French solar plant from EDF Energy’s renewable arm.

EDF Energies Nouvelles (EDF EN) developed and built the 115MW Toul-Rosières plant located in the Meurthe-et-Moselle department in eastern France, which it claims is one of the largest PV power plants in the world. It produces enough electricity to power around 55,000 households and cuts around 4,600 tonnes of carbon emissions per year.

Mitsubishi will buy the ‘Tranche 1’ plant with a 55MW capacity under a 20-year Power Purchase Agreement (PPA) with EDF. The firm aims to increase its worldwide power generation capacity to 6GW from the current 4.5GW by 2015, with 20% of it coming from renewable energy such as solar, wind and geothermal.