By Nathan Allen

Engie SA (ENGI.FR) and Casino Guichard-Perrachon SA's (CO.FR) GreenYellow subsidiary have set up a company to develop small-scale solar energy plants in France, Engie said Wednesday.

The new company, called Reservoir Sun, will specialize in solar plants of up to 1 megawatt for businesses and public bodies. The company aims to install around 100 megawatts of capacity per year across around 300 clients.

The group will invest around 100 million euros ($115.8 million) per year in building solar plants on roofs and parking lots, Engie said.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

October 17, 2018 07:59 ET (11:59 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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