Canigou Capital and our local French partner, are developing town-scale solar farm projects around regional France. Individual projects are in the range of 10MWp and are connected to the local distribution network, rather than the long-distance transmission network, which is more cost effective. Shine France has identified several sites in southern France which it aims to bring to ready-to-build stage. The scale of each project is designed to match current and projected future demands for electricity (e.g. residential, commercial, industrial) within a given community. This means that the clean energy generated will be used locally. When choosing sites, we consider a variety of factors, including proximity to good quality network infrastructure, Council and State zoning restrictions, topography, and vegetation. Road access and availability of labour are also important considerations.
In the most recent renewable energy country attractiveness index produced annually by EY, France has been ranked third in the world (out of forty) behind the US and China, with 650MW of ground solar being awarded long term power purchase agreements by the French Government. Over the next five years France aims to tender 28GW of wind and solar projects comprising of 10GW of ground-based solar, 4.5GW of rooftop solar.
France is also promoting the development of innovative solar projects from the use in viticulture (leading to reduced water loss and improved quality of the vines) and floating solar projects, which has a potential of up to 20GW spread over approximately 1300 sites consisting of primarily old industrial sites, dams and reservoirs.
Shine FSD Ltd is an investment vehicle set up to capitalise on the clear opportunities present in the French solar market. Specifically, Shine FSD Ltd has partnered with a local developer and we will develop a minimum of four projects. We will commit funding to the projects only when a lease option has been agreed with a land owner, and we will work to progress them all the way to Ready To Build (RTB) status.
Shine will initially develop two projects with the developer and take these to RTB stage. Once these first two projects are sold at the end of year one, the sale proceeds will be reinvested into two additional projects which will also be developed to RTB stage and sold.
The estimated time to complete a minimum of 4 projects is 24 – 36 months.
Investment into the Shine FSD Ltd investment vehicle will be available soon. Please fill in the contact details at the bottom of this page and we will email you when this project is launched.
Shine FSD Ltd. is registered in England under Company Number 12657785 with principal place of business at 71-75 Shelton Street, London, Greater London, United Kingdom, WC2H 9JQ
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