French renewables developer Tenergie and a subsidiary of domestic lender Credit Agricole SA have joined forces to establish a new company focused on solar power production in various departments across France.
The newly formed joint venture, named Caapten, will be owned by Tenergie and Credit Agricole Alpes Provence. It will target clients of the bank operating in the farming, industrial, and business sectors. According to a recent press release, Caapten aims to construct photovoltaic (PV) parks and generate electricity in the Bouches du Rhone, Vaucluse, and Hautes-Alpes departments.
As part of the plan, Caapten will develop and install PV plants on land owned by Credit Agricole Alpes Provence clients. This initiative provides clients with access to green power without the need for direct investment in the projects. In return for hosting the solar arrays, clients will have the option to receive rent or bank funding for the rehabilitation of existing facilities and the construction of new ones. The ownership of the PV systems will rest with Caapten.
The JV's objective is to build sufficient PV plants with an output capable of meeting the entire electricity demand of a city the size of Aix-en-Provence in the Bouches-du-Rhone department by the year 2030.
Tenergie, established in 2008, has accumulated a track record of installing wind and solar parks with a total capacity of 730 MW. The collaboration with Credit Agricole Alpes Provence underscores the shared commitment to advancing renewable energy initiatives and fostering sustainable development in France.
