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Fitch revises up outlook for French solar market

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Fitch revises up outlook for French solar market



The U.S. rating agency expects France will reach a cumulative capacity of 28 GW by 2027, 3 GW more than previously forecast. The reasons for the increase are the renewed efforts of the French government to push for more solar, and the solar plans of big energy players such as EDF and Total.

U.S. credit rating agency Fitch Solutions – part of the Fitch Group – says it has revised up its guidance for the growth of the French solar market up to 2027.

The company now believes France will deploy approximately another 20 GW by 2027, thus reaching a cumulative installed PV capacity of 28 GW. In its previous forecasts Fitch had predicted a total of 25 GW.

The reasons for the increase, Fitch said, are the recent scheme of the Macron administration to further boost solar in the country’s energy mix – the #PlaceAuSoleil plan released in June – and the ambitious plans of big French energy giants such as EDF and Total, which aim to install 30 GW and 10 GW, respectively, in the next decade.

The ratings agency also mentions, as reported by pv magazine, that French retail groups Auchan and Carrefour have promised to install 60 and 20 hectares of solar panels, respectively, at their facilities, while two more retailers – Magasins U and Les Mosquetaires – have committed to 50 hectares each.

Competition is expected to increase, Fitch adds, putting pressure on smaller companies active in the solar sector. The agency highlights the recent merger of French large-scale solar developer Solstyce and rooftop PV specialist Enerpur as an example of the trend.

At the end of March, France’s installed solar power had reached around 8.3 GW. That capacity, however, still accounts for only a minimal share – 1.1% – of the country’s power demand.



Source PV Magazine

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