BlueWatt and Recurrent Energy Ink Agreement on Rooftop Solar Power Projects

Power producer and solar power projects developer Recurrent Energy has entered into an agreement with solar power systems developer BlueWatt to finance, construct and operate solar photovoltaic (PV) power plant facilities on rooftops of commercial, logistics and industrial buildings throughout France.

Combining the expertise of BlueWatt in managing large building projects in France with the global experience of Recurrent Energy in the engineering and financing of PV power plant projects of 177 MW capacity in Ontario, 50 MW capacity in southern California and 4.8 MW capacity in Madrid and Barcelona will offer large infrastructure owners all across France with the option of either utilizing or leasing their vacant rooftops as facilities for solar power systems.

As per the agreement, Recurrent Energy will own, operate and finance solar power systems as and when contracts get signed, whereas BlueWatt will seek to co-invest and develop with real estate companies in France for rooftop solar power projects. The renewable energy generated by the power plant facilities will be fed directly into a utility grid in the locality. The two companies will work together to witness the completion of the first 50 MW capacity of secured projects.