Recurrent Energy Signs Two Project Development Agreements

Recurrent Energy, an independent power producer and developer of solar power projects, has signed a joint development agreement with Redavia, a France-based solar development and advisory firm.

Through this joint development agreement, Redavia will identify and assess ground-based solar PV projects under development in France, as well as negotiate agreements with developers to secure exclusive rights for Recurrent Energy to finance, build, own and operate the solar power plants.Â

The electricity generated by the plants will be fed back into the local utility grid, for which Recurrent Energy will be paid a feed-in tariff in accordance with French renewable energy policy.

In addition, Recurrent Energy has signed a joint development agreement with Greensol Alternative Energy Ltd., an Israel-based solar power systems developer, to finance, build and operate distributed-scale rooftop and ground-mount solar photovoltaic power plants across Israel.

The companies plan to provide commercial and industrial building land owners in Israel with the option to lease out and utilize their unused rooftop or land as sites for solar power systems. Under the terms of the agreement, Greensol will pursue opportunities to develop ground-mount and rooftop-based solar power projects on government, kibbutz and privately owned land across Israel. Recurrent Energy will finance, own and operate the solar power systems once contracts are in place.

SOURCE: Recurrent Energy

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