Press releases

Franklin assists key players that drive the growth of the photovoltaic industry and affirms its expertise in renewable energies

Franklin has bolstered its position in the energy sector by assisting key players in forming major business alliances this summer with the aim of deploying photovoltaic power plants to be operated by dedicated entities.
Jérôme Michel and his team have advised:
– EOLFI (a subsidiary of Veolia Environnement) on forming a joint venture with Réseau Ferré de France (RFF). The purpose of the joint venture, named “AIREFSOL ENERGIES”, is to design, develop and build green power plants.
Eolfi holds a 67% stake in the venture and contributes its technical and financial expertise in renewable energies, while RFF holds a 33% stake and contributes 103 hectares of land for rent in about 20 locations.
– POSTE IMMO (a subsidiary of La Poste managing the group’s property stock) on partnering with Urbasolar and Crédit Agricole Private Equity to build photovoltaic plants on land owned by group La Poste. The alliance also resulted in the formation of Arkasolia, a 50%-owned subsidiary of Poste Immo dedicated to examining and developing photovoltaic projects. A portfolio of 30 projects has already been created and new ones are being put together.
– the German group SCHOTT, more precisely its solar entity SCHOTT SOLAR AG, on partnering with Canopy to acquire Kyrnesole, a company currently building a photovoltaic plant in Corsica.
For this project, Franklin also worked with the German firm Corvel in negotiating the Engineering Procurement Construction contract for the construction and commissioning of the plant before the regulatory deadline for benefiting from EDF’s obligation to purchase electricity from photovoltaic plants.
Jérôme Michel heads the firm’s Public Sector Law / Projects department. He has widely recognized expertise in energy projects and advises major French and foreign corporations as well as governments and international institutions. He has participated in the setting-up and negotiation of energy projects (electricity and gas) in France, Latin America and Asia, and in institutional reform projects in Eastern Europe, Africa and Asia.

Press Release, September 20, 2011