German developer Renergys entering French market

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German developer and energy producer Renergys GmbH is entering the French market with the acquisition of a 24 MW project from Intervent SAS, the French subsidiary of Germany's Das Grüne Emissionshaus. The project, in Normandy, northern France, is at an advanced stage of development. Intervent will take it up to construction, scheduled for the first half of 2006, while Renergys will concentrate on financing and getting the legal structure in place as well as providing project management. Renergys will also operate the plant. The company, which has been looking for a suitable entry point since late 2004, says it chose this moment because "initial bureaucratic difficulties" with the French subsidy system have been resolved. It intends to establish a bigger portfolio in France, possibly with Intervent, with the aim of installing between 50-60 MW a year in the medium-term.

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