Tenergie, Credit Agricole unit form French PV power producer

French renewables developer Tenergie and a unit of domestic lender Credit Agricole SA (EPA:ACA) have teamed up to create a new company focused on the production of solar power in several departments of their home country.

The joint venture (JV) dubbed Caapten will be owned by Tenergie and Credit Agricole Alpes Provence and will target clients of the bank operating in the farming, industrial and business sectors. According to a recent press release, the entity will build photovoltaic (PV) parks and generate electricity in the Bouches du Rhone, Vaucluse and Hautes-Alpes departments.

Under the plan, Capteen will develop and install PV plants on land of Credit Agricole Alpes Provence clients, giving them access to green power without having to invest in the project itself. In return for housing the solar arrays, they will be able to receive rent or bank funding for rehabilitating existing facilities and building new ones. The PV systems will be owned by Caapten.

The JV’s goal is to build enough PV plants with an output that will be able to cover the entire electricity demand of a city the size of Aix-en-Provence, in Bouches-du-Rhone department, by 2030.

Since its creation in 2008, Tenergie has installed wind and solar parks totalling 730 MW.

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