Green City AG acquires a solar power plant with storage in Corsica
The Monte Cinto project, developed by Klara Energy, was acquired by Green City in the summer of 2019. This emblematic project consists of a 1MWp photovoltaic production plant associated with a battery storage unit with a capacity of 1.8MWh. The plant, installed on a specially designed agricultural greenhouse, is located in the town of Borgo in Corsica.
The project won the call for tenders from the Energy Regulatory Commission (CRE) for non-interconnected areas (ZNI). It benefits from a feed-in tariff increased over 25 years for the injection of electricity during peak hours. A computerized management system optimizes the supply of energy produced and helps stabilize the Corsican electricity network. The power station’s output will cover the needs of around 310 households by providing green electricity.
“This is a real turning point in the design and construction of new solar power plants. We will have to think differently in the future: we must leave this logic of production and grid supply to move to a supply of energy managed and focused on demand by combining generation plants and electricity storage facilities. Even though this project still has very attractive feed-in tariffs – especially in the evening and at night – these hybrid plants are the model for future projects”, says Jürgen Leinmüller, at the time Managing Director of Green City Energy France SARL.
The Monte Cinto solar power plant joins the project portfolio of the “Kraftwerkspark III” bond fund launched by Green City. More than 2,200 private and institutional investors have contributed to the investment of more than 50 million euros in wind, photovoltaic and hydroelectric projects in Europe demonstrating Green City’s ability to federate and promote participatory investment in favor of renewable energies.