Renewables

French Photosol to build PV plants of 1.2 GW in total in Balkans

French Photosol PV plants 1.2 GW Balkans

Photo: Harisankar on Unsplash

Published

March 19, 2025

Country

,

Comments

comments icon

0

Share

Published:

March 19, 2025

Country:

,

Comments:

comments icon

0

Share

Photosol is preparing to establish an office in Romania, from where it would run its operations in Bulgaria and the Western Balkans as well. The France-based company revealed it is targeting a portfolio of solar power projects of an overall 1.2 GW in the region.

Photosol operates 97 photovoltaic plants in France and plans another 5 GW including in Romania, which it is about to enter this year, Economica.net reported. The company is targeting 500 MW in the country, its International Development Director for Strategic Development Cyril Perrotey said at the Solar Energy Bucharest Summit.

The future head office in Romania will also be responsible for Bulgaria and the Western Balkans, he added.

“Why are we investing in Romania? Because it is a dynamic market, aligned with the economic context and sustainability values ​​of the European Union. We have found in Romania an economic environment conducive to business development and Photosol’s expansion,” Perrotey stated.

Photosol to invest in ground-mounted facilities before starting with agrivoltaics

Romania’s consumption of renewable energy and the development potential in the segment are among the biggest in the region, in his view. Investors including Photosol are driven by the possibility of capitalizing on projects, even if they are in their infancy or imperfect, and tapping on the EU’s funding mechanisms, Perrotey explained.

The company’s 2030 target for photovoltaics in the entire region is 1.2 GW, the update reads. Photosol intends to develop projects for ground-mounted solar power plants first and agrivoltaics after that. As for financing, it counts on commercial power purchase agreements (PPAs) to secure half of the revenues, according to the news outlet.

Romania’s ambitious renewables target makes its market attractive

Perrotey outlined the advantages that the company sees in Romania, including the gradual phaseout of coal and Russian gas, an ambitious renewables target and a contract-for-difference (CfD) state support mechanism. He said the country had 4.9 GW of photovoltaics online last year, compared to the 2030 goal of 8.2 GW. Romania has the highest growth rate in the region in the segment and strong interconnections, the risks are acceptable and permits are approved quickly, Photosol’s representative asserted.

The commercial PPA market is maturing – deals for 346 MW in total were signed in 2024, he underscored. Romania has a developed financial system with commercial banks and investment funds, though financing costs in the local currency are high, Perrotey said.

Financing costs in the local currency are high in Romania

Photosol has a portfolio of operational solar power plants and ones under construction of 992 MW in combined peak capacity, the article adds. More than 5 GW is in the pipeline, targeted for completion by 2030. It includes solar power projects in Italy, Spain and Poland.

According to Photosol’s website, its two largest plants, Ychoux-Parentis and Verneuil, each have 43 MW in peak capacity. The company is building one facility of 51 MW in peak capacity, also in France. Photosol provides turnkey deals for PV systems for landowners.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

croatia ina eon ppa virje solar

INA, E.ON sign power purchase agreement in Croatia

10 July 2025 - Croatian oil and gas company INA and German energy firm E.ON's local subsidiary signed a PPA for electricity from renewable sources

Solar beats nuclear in June becoming EU biggest electricity source first time

Solar beats nuclear in June, becoming EU’s biggest electricity source for first time

10 July 2025 - Solar was the EU’s largest source of electricity for the first time in June. Records for photovoltaics and wind rolled in in May and June

Director Christian Zinglersen is leaving ACER

Director Christian Zinglersen is leaving ACER

10 July 2025 - ACER needs to appoint a new director as Christian Pilgaard Zinglersen is becoming deputy secretary general of the EIB Group

Cyprus curtails renewable electricity first half 2025 whole last year

Cyprus curtails as much renewable electricity in first half of 2025 as whole last year

09 July 2025 - Curtailments of renewable electricity in Cyprus topped 167 GWh in the first six months of 2025, equivalent to last year's entire cuts