Mitsubishi boosting solar power holdings in Europe

Buys 50% stake in two solar PV plants in France.

Mitsubishi Corporation has acquired a 50% stake in two solar PV power plants in France with a total a generating capacity of 56 MW.

The plants were acquired through Diamond Generating Europe (DGE), a London-based Mitsubishi subsidiary. DGE will own 50% equity of the plants, with EDF Energies Nouvelle, which sold the stakes, holding the remaining 50%.

With the buy-in, Mitsubishi has brought its total capacity for solar power generation in France to 111 MW. The two plants acquired this week are Crucey (36 MW) in northern France and Massangis (20 MW).

EDF EN and DGE jointly operate the 55 MW Toul Rosieres plant in northeastern France. The two companies also operate a joint venture for wind farm electricity generation. They recently acquired joint ownership of a 72 MW wind farm in northern France.

Mitsubishi has also announced its decision to consolidate all Middle East and Europe renewable energy and independent power producer assets under DGE. It is positioning DGE as the platform for all its IPP activity in these regions.