Axpo Subsidiary Urbasolar to Build 37 new Solar Plants in France

Axpo Holding has announced that its subsidiary Urbasolar is accelerating its growth in France by developing 37 new solar plants across 16 French departments

Swiss utility Axpo Holding has announced that its subsidiary Urbasolar is accelerating its growth in France by developing 37 new solar plants across 16 French departments in collaboration with French bank Crédit Agricole. 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 will be financed by the French bank Crédit Agricole, its subsidiary Unifergie – which specialises in renewable energy projects, and various regional banks.

With its subsidiaries Urbasolar and Volkswind, Axpo has strong platforms available for the expansion of its solar and wind business. Just recently, Axpo successfully placed a green bond on the Swiss capital market with net proceeds amounting to CHF 133 million. Said capital will be used to fund projects in the photovoltaic and wind energy sectors. In doing so, 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.

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 and 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 holds additional plants with a capacity of 1700 megawatts.