Global EcoPower to build 8.86 MW PV plants in France

(ADPnews) - Nov 4, 2010 - French solar project developer Global Ecopower SA (EPA:MLGEP) today said it will build two photovoltaic (PV) facilities with a combined capacity of 8.86 MWp in France.

The company has already sold the assets to the Leonidas IV fund, managed by German investment company Leonidas Associates GmbH for EUR 32 million (USD 45.6m).

One of the turnkey projects, named Veules-les-Roses, is a ground-mounted project with a capacity of 5.52 MWp and is located in Seine Maritime, northern France. The other one is a solar greenhouse project -- Bourgneuf-en-Mauges. This plant will have a capacity of 3.34 MWp and will be located in Maine et Loire in west-central France. Construction of both facilities will commence in 2010 and they will be completed in the second and the third quarter of next year, Global EcoPower said.

Both projects have obtained building consent before the feed-in tariff cut in France and will benefit from a power purchase price of EUR 0.314 per kWh for the ground-mounted plant and EUR 0.42 per kWh for the panels installed on the rooftop of the greenhouse.

The two PV plants provoked great interest among institutional investors, especially in Germany, Philippe Perret, executive vice president of the company, said.

(EUR 1 = USD 1.424)

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