Axpo Subsidiary Urbasolar To Make 37 New Solar Plants

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  • This would be done in collaboration with French Bank Credit Agricole
  • Axpo already has strong platform available for the expansion of its solar and wind business with its subsidiaries Urbasolar and Volkswind
  • The company currently operates solar plants with a total capacity of 350 megawatts

According to a report, Axpo Holding has announce that its subsidiary Urbasolar is accelerating its growth in France by developing 37 new solar plants across 16 French departments.

This would be done in collaboration with French Bank Credit Agricole. The total project financing amounts to EUR 124 million, which is one of the largest financing volumes for new PV systems in France.

The 37 solar plants that will primarily be built in Southern France have an installed capacity of 143 MW and can cover the annual power consumption of 65,000 households. The first plants have already been completed and connected to the grid recently. The total amount of EUR 124 million which would be financed by the French bank Credit Agricole, its subsidiary Unifergie speicializing in renewable energy projects and various regional banks.

Strong Expansion Platform

Axpo already has strong platform available for the expansion of its solar and wind business with its subsidiaries Urbasolar and Volkswind. Axpo successfully placed a green bond on the Swiss capital market with net proceeds amounting to CHF 133 million.  With this progress, Axpo is strengthening its position as Switzerland’s largest producer of renewable energies and reinforcing its leading role in the European wind and solar business.

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Christoph Sutter, head Renewables at Axpo, explains “France is exemplary in terms of how rapidly the expansion of photovoltaics can go forward when the regulatory framework conditions are right. It would be great if Switzerland also had an environment that enabled us to use our extensive know-how in the area of solar plant construction.”

Urbasolar has been a subsidiary of Axpo since 2019. It counts among the most important companies in the solar energy industry in France. The company with headquarters in Montpellier currently operates solar plants with a total capacity of 350 megawatts. The pipeline hols additional plants with a capacity of 1700 megawatts.

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