France's leading producer of exclusively renewable energy La Compagnie Nationale du Rhone (CNR) announced on Monday its decision to invest 1 billion euros (about 1.07 billion U.S. dollars) in its photovoltaic systems, reported French news channel BFMTV.
With the investment, the producer seeks to increase its installed capacity from 150 megawatt peak (MWp) to 1,000 MWp by 2030, said Laurence Borie-Bancel, CEO and chairman of CNR, at a press conference in Paris.
The "massive" investment will create 600 direct or indirect jobs with 80 projects in development, said Borie-Bancel.
Solarhona, a subsidiary company dedicated to photovoltaic development, was launched to carry out these projects.
The CNR is the concessionnaire of the Rhone River -- flowing from western Switzerland to southeastern France into the Mediterranean Sea -- for the production of hydroelectricity, river navigation and agricultural irrigation.
It ensures a quarter of the country's hydroelectric production with 19 power stations.
Editor: Galia
