Neoen to sell 11 MWp solar PV and CSP projects to Amarenco

Neoen has entered into an agreement to sell its entire interest in the Grabels and Lagarde solar power plants in France, representing together a total capacity of 11 MWp, to Amarenco Group. The enterprise value is closed to EUR31 million (US$36.33 million), or EUR2.8 million (US$3.28 million) per MWp.

Located in the Hérault and Vaucluse departments, the Grabels and Lagarde power plants are in operation since August 2015 and August 2018, respectively. They hold power purchase agreements running to 2035 and to 2036. Both solar power plants comprise two-thirds crystalline photovoltaic panels and one-third concentrator photovoltaic modules.

The transaction remains subject to the customary conditions precedent and is expected to close in the fourth quarter of 2021.