Recurrent Reaches Deals in France & Israel

Recurrent Energy and Redavia, a French solar development and advisory firm announced a joint development agreement, in which Redavia will act on Recurrent Energy’s behalf to identify ground-based photovoltaic projects that are under development in France – and which Recurrent Energy may consider for acquisition.

Through this joint development agreement, Redavia will identify and assess ground-based solar PV projects under development in France, as well as negotiate agreements with developers to secure exclusive rights for Recurrent Energy to finance, build, own and operate the solar power plants.

The renewable electricity generated by the plants will be fed back into the local utility grid, for which Recurrent Energy will be paid a feed-in tariff in accordance with French renewable energy policy.

“Redavia looks forward to working closely with the Recurrent Energy team to deliver new solar power generation to France,” said Erwin Spolders, president of Redavia. “Our combined expertise will provide developers an opportunity to bring solar power projects to operation more quickly and securely.”

Recurrent also announced that it has signed a joint development agreement with Greensol Alternative Energy Ltd., an Israeli solar power systems developer, to finance, build, and operate distributed-scale rooftop and ground-mount solar photovoltaic (PV) power plants across Israel.

Under the terms of the agreement, Greensol will pursue opportunities to develop ground-mount and rooftop-based solar power projects on government, kibbutz and privately-owned land across Israel.

Recurrent Energy will finance, own and operate the solar power systems once contracts are in place. The renewable electricity generated by the distributed power plants will be fed back into the local utility grid, for which Recurrent Energy will be paid a feed-in tariff in accordance with Israeli renewable energy policy.

Recurrent Energy and Greensol are committed to working together on the first 50 MW of joint projects secured over three years. Details on equipment providers, specific locations, financial details and economic impacts were not available.

“This joint development agreement with Greensol marks Recurrent Energy’s entry into the fast growing Israeli solar power market,” said Karl Knight, Managing Director of International Development at Recurrent Energy. “With attractive solar resources and many of the attributes of European solar programs, Israel has significant potential for projects.”

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