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EDF subsidiary EDF Energies Nouvelles and the US’ First Solar have formed a joint venture to build France’s largest solar panel manufacturing plant.
The plant will have an initial annual capacity to produce more than 100MW of thin-film photovoltaic (PV) panels, and will employ 300 people when it reaches full production during the second half of 2011.
First Solar will build and operate the plant, which involves an investment of €90 m. EDF Energies Novellas will finance half of the capital investment and start-up costs and will receive the plant’s entire output for the first 10 years. First Solar and EDF EN intend to announce their decision on the site location within the next few months.
France’s Sustainable Development Minister Jean-Louis Borloo said “I salute the decision of EDF Energies Nouvelles and First Solar to invest and create jobs in France’s solar sector, which has begun to take off since the Grenelle de l’Environnement initiative,” he said. “This investment represents a veritable turning point for the photovoltaic industry and confirms that France is more than ever in a position to play a leading role globally.”
Pâris Mouratoglou, Chairman of the Board of EDF Energies Nouvelles, said, that the company had raised 500 m last year to finance its expansion in the PV sector and that the company intends to be a global leader in solar energy. EDF Energies Nouvelles says it has a target of installing 500MW in photovoltaic capacity for its own operation by 2012. “Securing a competitive supply is essential for us to participate in the development of a large French solar market,” said Mouratoglou.
Mike Ahearn, Chairman and First Solar CEO Mike Ahearn said, “The decision to invest in France reflects our firm belief in the French market and its great potential. It represents a vote of confidence in the policies being developed by the French government since the Grenelle de l’Environnement to promote renewable energies and allow solar electricity to compete economically with other forms of energy.”
First Solar’s manufacturing site will also include a facility for recycling solar panels, France’s first such facility and Europe’s only solar panel recycling plant outside of Germany.
EDF Energies Nouvelles is a 50%-owned subsidiary of the EDF Group listed on the Euronext Paris exchange. It has focused on wind energy for several years and more recently on solar PV which it says is now a second priority avenue of development for the group.
