Japan's Mitsubishi has acquired a 50% stake in two solar PV power plants in France totalling a generating capacity of 56MW, through Diamond Generating Europe (DGE), a London-based Mitsubishi subsidiary.
DGE will own 50% equity of the plants, with EDF Energies Nouvelle (EDF EN), which sold the stakes, holding the remaining 50%.
Mitsubishi Corporation has brought its total capacity for solar power generation in France up to 111MW with the addition of the two new facilities. The two plants acquired this week are Crucey (36MW) in northern France and Massangis (20MW), although both are part of larger scale solar projects, with Crucey totalling 60MW and Massangis 56MW in total.
At present, EDF EN and DGE jointly operate the 55MW Toul Rosieres plant in north-eastern France. The two companies also operate a joint venture for wind farm electricity generation, last week also acquiring 50% each of a 72MW wind farm in northern France.
Mitsubishi has also announced its decision to consolidate all Middle East and Europe renewable energy and independent power producer (IPP) assets under Diamond Generating Europe.
The company said it was positioning DGE as the platform for all its IPP activity in these regions.