Long lease terms
What are my recources in case of non-payment of rent ?
We guarantee the payment of the rent for the entire duration of the lease, as is the case for all projects worldwide. However, in the scenario where rent would not be paid for different reasons, local laws will apply based on legal wording within each lease agreement.
What happens if ownership of the land changes during the lease term ?
In the case where the lease ownership is transferred, the new contract beneficiary must respect all the clauses. Thus, the payment of the rents as well as the maintenance of the floating solar power plant and its dismantling at the end of its service life are ensured without discontinuity.
What’s next after initial operating period ?
We offer to extend the duration of the lease by 2 terms (2 x 10 years) and we offer to extend the initial operating period from 30 to 35 years when relevant.
Why renew a lease term ?
The national power grid will receive renewable energy over the long term thanks to the newly created infrastructure developed with the floating solar project.
The lifetime of these facilities is about 30 years with current technology and is constantly improving, with photovoltaic panels capable of producing up to 70% of their capacity at 40 years.
We therefore expect that projects designed today can be optimized and repowered thanks to technological innovations developed by the industry. This will extend floating solar power plant lifetime to 50 years, while offering all stakeholders the opportunity to benefit from these energy infrastructure projects, which are essential today and have positive impact on the climate.
Why a 32-year lease ?
The lease of your land is granted from the beginning of the construction until its return to its former state. To make the operation profitable, the plant must be operated for a minimum of 30 years which include before the start of the 30 years term a phase of Procurement & Construction that can vary depending on project size.