CEZ Entered the French Renewable Sector to Increase Share of Electricity Generation

Renewable Energy

CEZ has made debut in the French renewable sector with purchase of nine wind farms from German Manufacturer ABO Wind. Czech conglomerated said the assets were distributed across six different regions of French. CEZ further added that farms would benefit from a feed-in-tariff (FID) in the coming 15 years and also the farms could manage 100 MW of capacity within next five years.

Tomas Pleskac, a CEZ board member mentioned that the firm would likely to tie up the purchase of an unidentified German unrenewable plant. However, in the current date CEZ is still rely on lignite-fired power plants in the Czech generation segment.

CEZ Aims to add more Renewable Capacity in the Coming Years

According to sources, CEZ is planning to add 400 MW of renewable capacity in the couple of years for improving its green credentials. CEZ also aims to create 3 billion koruna of operating profits from renewable sources by 2020. France looking to increase electricity generation share by 40% by 2030, which is currently on 11%.

In past, most of the companies from French renewable industry had experienced dominance by national nuclear company Areva and they had also raised the issue of increasing regulatory burden on their operations in place. According to French diplomats, France’s renewable output increased by 23% in 2015 on account of an additional 1,000 MW from wind farms and solar plants with the output of 900 MW.

CEZ’s entry in the French renewable sector would help to generate electricity in high percentage as the farms are located at six different region. CEZ hoping that this move will succeed in all the regions they have invested.

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