Germany utility E.On is continuing the rapid development of its solar power activities with the acquisition of French project developer Société Conilhac Energies SAS.
E.On says that the acquisition will enhance its ability to develop and implement photovoltaic projects as part of its wider goal of expanding its renewable power portfolio. It is aiming to have 10 GW of renewable generation capacity by 2015.
Conilhac has developed a number of PV projects in southern France and owns a “significant” pipeline of PV projects at various stages of maturity, says E.On, which recently opened its first solar farm near the southern French town of Le Lauzet. The German utility is expecting solar PV technologies to reach parity with other renewables such as wind power by 2020, and anticipates that solar energy will follow a growth path over the coming decade similar to the one experienced by the wind energy sector over the last decade.
E.On is investing EUR8 billion in renewables between 2007 and 2011, and says that by 2030, nuclear, hydro and renewable technologies will account for half of its electricity generation.
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