Capital Stage Buys $87 Million of Solar-Power Plants in France

Capital Stage AG, a German clean-energy investor, bought five solar plants in France from developer GP Joule GmbH for about 70 million euros ($87 million).

Capital Stage secured a feed-in tariff of about 11 euro cents a kilowatt-hour until 2032, the Hamburg-based company said today in a statement. The plants in the Aquitaine region of southwestern France have a combined capacity of 50.8 megawatts and are expected to start operating by the end of this month, it said.

The purchase is part of a cooperation with insurer Gothaer Versicherungen, which gave Capital Stage 150 million euros to invest in European solar parks. Capital Stage expects to spend the entire amount by the end of next year, Chief Executive Officer Felix Goedhart said.

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