San Francisco, United States [RenewableEnergyWorld.com] Recurrent Energy has reached an agreement with BlueWatt, a French solar power systems developer, to finance, build and operate solar photovoltaic (PV) power plants on rooftops of industrial, commercial and logistics buildings across France.
Under the terms of the agreement, BlueWatt will develop and co-invest in rooftop based solar power projects with major real estate firms in France. Recurrent Energy will finance, own and operate the solar power systems once appropriate contracts are in place.
The electricity generated by the distributed power plants will be fed back into the local utility grid. Recurrent will be paid a feed-in tariff in accordance with French regulation. Recurrent Energy and BlueWatt said that they are committed to working together on the first 50 MW of joint projects secured.
“This joint development agreement allows both Recurrent Energy and BlueWatt to bring many rooftop distributed-scale solar power opportunities to France,” said Karl Knight, managing director of International Development at Recurrent Energy. “We are committed to assisting the growth of the French solar market and playing a role in that market that allows us to work with a select group of high quality early stage developers in order to bring their pipelines to maturity.”