New vehicle to invest €150 million into French BESS

The French public investment company Corsica Sole and the Banque des Territoires have joined forces to create an investment platform aimed at accelerating the development of energy storage projects in France. Named “Corsica Sole Hexagone,” it is 49% owned by the Banque des Territoires, while Corsica Sole will retain a majority stake of 51%.

The two partners plan to deploy a portfolio of high-voltage projects representing a total capacity of nearly 2 GWh in France by 2029. To support this ambition, a target investment of up to €150 million has been established. This funding will provide the necessary equity for the structuring, construction, and phased commissioning of the various projects.

“Corsica Sole anticipates the growing and critical need for flexibility in the French electricity grid and is positioning itself today, alongside the Banque des Territoires, as a key player in this transformation,” the group wrote in a statement.

Among the first projects supported is a storage plant currently under construction in Beuvry, in the Hauts-de-France region . With a capacity of 50 MW / 100 MWh, it is scheduled to be commissioned in early 2027.

Beyond this initial project, two other operations totaling 500 MW/1 GWh are currently in advanced stages of development and will see their construction begin before the end of 2026. Experiencing rapid growth, the company currently operates over 150 MWp of photovoltaic power plants and over 360 MWh of energy storage capacity. It is developing a portfolio of projects across Europe representing over 1 GW of solar power and 5 GWh of storage, of which nearly 3 GWh will be deployed by 2028.

From pv magazine France.