Rubis Photosol, ranked among France’s top five photovoltaic electricity producers, has initiated its first European expansion by acquiring a portfolio of 10 photovoltaic and agrivoltaic projects in Italy’s Lazio region, collectively generating approximately 100 MWp. The investment marks a significant milestone in the company’s growth strategy and underlines the increasing focus on agrivoltaics in renewable energy development.
The acquisition is contingent on the seller, Ib Vogt GmbH – a leading utility-scale solar development platform – obtaining each project’s “Ready-to-Build” (RTB) status. This agreement represents a firm commitment from Rubis Photosol to purchase the ten identified projects within the next 12 to 18 months once they reach RTB status. The first two RTB projects, with a total capacity of 25 MWp, were secured by Rubis Photosol on 28 June 2023.
Two of the remaining eight projects have already received construction permits, and six are nearing the final stages of development. The construction is set for late 2023, with the commissioning of all projects scheduled for 2025 and 2026. The investment necessary for realizing this portfolio is estimated to peak at 100 million euros, including land acquisition costs. Once fully operational, these ten projects are projected to produce approximately 150 GWh of green electricity annually.
“This is Rubis Photosol’s inaugural international acquisition, affirming our ambition to be a leading European developer and independent power producer (IPP). Our expertise developed in France since 2008, along with the synergies between Italian and French markets, will propel the growth of our integrated platform across the entire value chain. Our development, construction, and maintenance teams are eager to contribute their skills to an expanding market,” shared David Guinard, co-founder and CEO of Rubis Photosol.
In addition to its recent expansion into Italy, Rubis Photosol fosters development platforms in Spain and Poland. The company’s subsidiaries in these countries have entered co-development partnerships with experienced local entities tasked with identifying and developing new solar and energy storage projects.
This active engagement in Spain and Poland underscores Rubis Photosol’s ongoing efforts to accelerate its strategy in the European market. The company aims to build a robust pipeline of solar projects and green energy storage, promoting sustainable energy solutions and contributing to a cleaner, greener future.