French energy group Engie and GreenYellow, a subsidiary of French retailer Casino, launched an equally-owned joint venture to accelerate the development of solar photovoltaic self-consumption in France for businesses and authorities, Engie announced Wednesday.
The company, which was created with the approval of the European competition regulation authorities and labor relations organizations, will use the surfaces on roofs and car parks to produce local, green energy, according to a statement from the company.
Reservoir Sun will specialize in the segment for solar power plants up to one megawatt-peak for businesses and authorities, it said. The objective is to reach 100 megawatts-peak per year, or nearly 300 accounts comprising an average of 300 kilowatts-peak per project.
For this purpose, €100 million will be invested annually in the market for medium-capacity facilities.
"This is the first time for an actor to commit this many resources to companies and authorities in favor of solar self-consumption," the statement added.
Engie CEO Isabelle Kocher described the creation of Reservoir Sun as "an excellent illustration" of the group's commitment to provide support to all businesses and communities in the energy transition.
"This project also confirms the new dynamics of development of short energy supply chains, in which the Engie group has firmly positioned itself," she added.
Reservoir Sun's headquarters are located in Marseilles. Seven further branches will be opened in Bordeaux, Toulouse, Valence, Montpellier, Avignon, Lyon and Paris.
"The company will draw on a mixed, innovative team, expert in developing projects for the production of decentralized solar energy and in managing the issues of its future customers, in particular in the public tertiary sector, industry, health, trade and distribution," Engie said.
According to the statement, Engie is the leading producer of solar electricity in France with 1,200 megawatts (MW) of installed capacity. GreenYellow is the leader in self-consumption for the mass retail sector in France, with over 190 MW of solar facilities developed, constructed and in operation, with more than 1,000,000 square meters of photovoltaic panels installed.
By Hale Turkes