French photovoltaic utility Solaire Direct and a leading French bank, Caisse des Depots, announced a JV company, Solaire Durance, which will build 32MWp in the South of France (Var region). The 32MWp will be split among 5 different solar parks, and the first solar park is expected to come online in the second half of 2008.The installer, Solaire Direct was established in October 2006, and they raised €6.1 million of funding in June 2007 (from companies including TechFund, Schneider Electric Ventures, and Demeter Partners). They are now investing €3.81 million of that money in this JV, while Caisse des Depots is investing €4.44 million. Solaire Direct will own 50.25% of the new company.
The total spend on the 32MWp of solar parks is expected to be €140 million. 20% of this will be from direct investment (€28 million), and 80% will be borrowed.
1 comment:
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