GIG portfolio company Cero Generation and EDF Renewables to join forces to support Green Lighthouse Development

20 May 2021

  • EDF Renewables joins GIG portfolio company, Cero Generation, to support the delivery of Green Lighthouse Development’s 2.4 GW French solar development portfolio 
  • The portfolio is one of the largest agrivoltaic portfolios in France
  • The innovative agrivoltaic developments co-locate solar power plants with agricultural activity to enhance the sustainability of both sectors

EDF Renewables, a leading French renewable energy player, has signed a share purchase agreement which, subject to the relevant anti-trust authorities' final regulatory approvals, will see them acquire a 45% equity stake in GLHD alongside Cero Generation, one of Europe’s largest solar energy developers. Upon completion of the transaction, Cero and EDF Renewables will each own 45% of GLHD, with the remaining 10% owned by GLHD’s founders. Together, the partners will support the delivery of GLHD’s 2.4 GW solar development portfolio.

GLHD is a leader and innovate pioneer of agrivoltaic solar projects in France. GLHD's agrivoltaic projects co-locate agricultural activity and renewable energy production to support a sustainable future for both sectors. 

France has placed solar at the heart of its energy transition strategy, targeting the deployment of up to 44 GW of solar energy by 2028. With the demand for land and need to meet these ambitious renewable energy targets growing, co-location and multi-use solutions are becoming increasingly important. 

EDF Renewables, which recently signed a charter of best practices with the National Federation of Agricultural Holders’ Unions (FNSEA) and the French Chambers of Agriculture to develop photovoltaic projects on agricultural land, will bring its technical, development and industrial expertise to GLHD’s portfolio. EDF Renewables is also developing innovative technological solutions for solar plants with EDF Research and Development, which will further enhance the complementarity between agriculture and solar development. The partnership will support the EDF Solar plan which aims to establish EDF as a leader in the French solar market, and targets a 30% market share by 2035.

Launched in February 2021, Cero is a development focused solar energy company working across Europe to deliver a net-zero future. It works alongside local partners, including GLHD, to deliver its 8 GW portfolio of over 150 utility-scale and on-site generation projects.   

Cero Generation is a Green Investment Group portfolio company, operating on a stand-alone basis.

Read the full press release.

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