Energy giant E.ON has signed a share sale and purchase agreement for the acquisition of Société Conilhac Energies S.A.S. (Conilhac), a developer of photovoltaic projects in southern France.
The sale is part of E.ON's "rapid development of its solar activities in one of Europe’s most important markets for solar energy," the company said.
Recently E.ON opened the company’s first solar farm near the southern French town of Le Lauzet.
The farm, which is spread over 20 hectares, has an installed capacity of 1MW and can be expanded to 5MW subject to the availability of a similarly sized grid connection, the company said.
E.ON expects to invest €8bn in the expansion of renewable energy sources by 2011. The aim is to have approximately 10GW of generation capacity based on renewables by 2015.
By 2030 E.ON aims to produce 35% of its power from renewable sources, 25% of which will mostly come from wind, solar, biomass and biomethane.