E.ON continues expansion, acquires French PV developer

E.ON has acquired Société Conilhac Energies S.A.S. through a share sale and purchase agreement. This follows the opening of the company’s first solar farm in the south of France, a region ripe for solar power development. Conilhac has been actively developing solar projects in this region and has a good-sized pipeline already in place.

Photovoltaic power is on the rise: from 2003 to 2008 the annual global installation rate rose from 600MW to 5,600MW. Though photovoltaic power is among the more expensive renewable energy options, E.ON expects it to develop similar to wind power. The company is thus taking steps now to add solar energy to its production to reach the production goal of 10GW of renewables by 2015.