Engie, Casino launch a new joint venture

Engie, Casino launch a new joint venture

Engie, Casino launch a new joint venture

/ Renewables / Thursday, 18 October 2018 10:12

Energy giant Engie and GreenYellow, a subsidiary of Casino supermarkets, have launched a joint venture specializing in solar photovoltaic self-consumption for businesses and communities. The company, equally owned, is named “Reservoir Sun” and will focus on small plants up to 1 megawatt (MW).

The goal is to install “a hundred MW per year” almost “one delivered and connected central per day,” detailed Otmane Hajji, President of GreenYellow, at a press conference. Both partners have planned to invest 100 million euros per year.

The panels will be installed on roofs or car parks, which still represent a large area potentially exploitable in France. “The potential of decentralized solar is very important,” said Isabelle Kocher, Engie's CEO, recognized as the leading solar player in France. It is an “atypical alliance”, she also stressed.

In fact, GreenYellow was launched ten years ago by Casino group, whose main activity is distribution.

Moreover, Casino has just sold 24% to the investment company Tikehau Capital and Bpifrance for 150 million euros.

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