German utility EnBW is to buy French wind and solar company Valeco for undisclosed terms. EnBW said both firms wanted to be among the top five wind and solar operators in France. The German firm has a €5bn ($5.6bn) plan for expansion of its renewable operations. Germany’s biggest utility, E.ON, also plans to invest more than €1bn ($1.2bn)on renewables over the next two years, including investments into offshore wind. Future schemes for Valeco include being one of five companies planning 1.2 GW of solar in four French municipalities.
German utility EnBW is to buy French wind and solar company Valeco for undisclosed terms. EnBW said both firms wanted to be among the top five wind and solar operators in France. The German firm has a €5bn ($5.6bn) plan for expansion of its renewable operations. Valeco currently runs 276 MW of wind and 56 MW of solar power in France, with 1.7 GW of projects in the pipeline. Future schemes for Valeco include being one of five companies planning 1.2 GW of solar in four French municipalities.