Prime Sun Power Inc. operates with the intent to provide solar power, wind power and other renewable energies. The company said it plans to develop, build and operate 500 megawatts (MW) of photovoltaic (PV) solar power generation through the end of 2013.
The company today announced it has signed a master acquisition agreement with investment manager DFD Select Group Ltd. and EnWay SAS, and with EnWay, an operational coordinator in the renewable energy industry.
Per the agreement, the companies will co-develop up to 100 MW PV plants in France in 2011. Upon grid connection, Prime Sun Power plans to acquire and operate the grid connected power plants as a long-term company asset.
The power plants will be allocated on land identified by DFD/EnWay in southern France, and Prime Sun Power is already in discussions with major French institutions to secure the engineering, procurement, construction and installation (EPCI) contracting and long-term financing.
“The French market provides attractive energy output levels as well as rewarding investment returns. DFD/EnWay have substantial knowledge about the licensing procedures and have excellent relationships with prime landowners and regional authorities. The projects’ indicative profitability and key financials are promising. In addition to the Italian market, this step accelerates the projected growth of PSP as a utility-scale PV power plant developer and operator,” Olivier de Vergnies, CEO of Prime Sun Power stated.
For more information visit www.primesunpower.com
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