These projects are developed by REDEN, an existing client of the Crédit Mutuel Alliance Fédérale group, which has recognized expertise in the construction and operation of such assets.
With a combined capacity of c.10MW, the portfolio will consist of ground-mounted solar plants that, while generating decarbonized electricity, will also provide farmers with a valuable working tool. The production assets will be geographically distributed across the Southeast and the Southwest of France and will benefit from strong local integration. The construction of the plants has already begun, with the first ones expected to be able to feed electricity into the grid by the end of 2025.
The first portfolio will benefit from CPPA (Corporate Power Purchase Agreements) signed for a duration of 20 years with a prestigious French haute couture house, Chanel, which will also be heavily involved in the project as a co-shareholder.