EDF Renewables enters exclusive talks to acquire the Luxel group, a French solar energy specialist

EDF Renewables has entered into exclusive negotiations to acquire the Luxel Group, an independent solar energy player in France. Armed with its renowned team in the solar energy sector, the Luxel Group has about one gigawatt (1,000 MWp) gross capacity in operation, ready to build or under development.

The purpose of the deal is to accelerate the development of EDF Renewables in photovoltaic energy in France. The EDF Group also wishes to leverage on the additional resources brought by this transaction to execute its Solar Plan that aims at reaching a 30% market share in solar energy in France, between 2020 and 2035.

EDF Renewables, a leading player in renewable energies in France, operates more than 100 onshore solar and wind energy facilities totalling 1.8 GW in gross installed capacity in its home country, and close to 230 MWp gross capacity in solar energy.

Luxel owns solar plants totalling close to 90 MWp gross capacity, operates around 130 MWc, mainly located in the south of France, and has a portfolio of around 900 MWp of projects at various stages of development. Its team of around 40 photovoltaic specialists is split across 6 development offices and its headquarter in Pérols (Hérault department).

A preliminary agreement opening a period of exclusive talks with the shareholders of the Luxel Group has been entered into with the objective to reach a final agreement on the acquisition by EDF Renewables of the entire share capital of the Luxel Group.