Innergex Renewable Energy Inc. (TSE: INE) selected two solar projects with totals of 32 metawatts in the French municipality of Joux-la-Ville.
The company announced that it developed these two agrivoltaic projects as part of the Grenier des Essences portfolio and submitted them in response to the Energy Regulatory Commission’s call for tenders in France. These projects represent Innergex’s first ventures in the French solar market, marking a significant milestone for the company.
The two projects will sell the electricity they generate under a 20-year power purchase agreement after commissioning in 2027. Additionally, the projects depend on executing contracts, successfully completing permitting processes, and meeting regulatory requirements.
“By joining forces with farmers and local officials, we are showing how renewable energy production can drive more resilient and innovative agricultural practices in these regions,” said Michel Letellier, president and CEO of Innergex.
“These projects represent a significant step forward for Innergex in France and a promising model for the future of our development activities.”
This comes after Innergex’s announcement in March regarding its Hale Kuawehi Solar and Battery Storage Project, which reached commercial operations.
Located on Hawaii Island, the project combines 30 MW of solar capacity with 30 MW/120 MWh of battery storage to provide reliable clean electricity to the Hawaiian Electric grid. The company will then sell the electricity under a 25-year power purchase agreement with Hawaii Electric Light Company, Inc.
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There are plenty of options in the alternative energy space
The company’s work aligns with that of First Solar (NASDAQ: FSLR).
American-based solar energy company, First Solar provides utility-scale photovoltaic (PV) solar solutions. The company manufactures advanced thin-film solar modules and develops large-scale solar power plants.
It’s known for improving solar module efficiency while reducing production costs. Furthermore, it has a significant part to play in the circular economy in that it offers a recycling program for solar panels at the end of their life cycle. Additionally, the company operates across North America, the Middle East, and Asia.
Ocean Power Technologies (NASDAQ: OPTT) is a leader in wave energy technology, focusing on harnessing energy from ocean waves. The company’s flagship product, the PowerBuoy, captures the kinetic energy of waves and converts it into electricity.
This technology is particularly useful for regions that lack access to wind or solar energy.
TerraPower is a nuclear energy company developing next-generation nuclear reactor technologies, including the Natrium reactor, which uses sodium-cooled fast reactors.
This technology aims to provide safer and more efficient nuclear power by addressing challenges like waste management and safety concerns. TerraPower is also working on integrating its reactors with renewable energy systems and advanced storage technologies to improve grid stability.
TerraPower also has notable partnerships from industry leaders like Bill Gates and Warren Buffett.
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