Steel giant ArcelorMittal is branching out into solar energy after acquiring Exosun, the French leader in solar trackers.
The firm has filed a request with the commercial court in Bordeaux to take over the energy company, according to the Luxemburger Wort.
If the request receives judicial approval, it would enable the steel giant to revive an area it explored in the 2000s. ArcelorMittal installed solar panels at the Geoffroy-Guichard stadium in Saint-Étienne (France) in collaboration with Tenesol, a subsidiary of Total and EDF, in 2007. It subsequently developed a niche via its ArcelorMittal Construction branch.
Exosun specialises in the manufacture of a system of rotating solar panels, allowing them to follow the course of the sun and optimise energy production. It has several projects around the world and records a rising turnover. However, it has been experiencing financial difficulties as a result of the drop in the solar energy prices per kilowatt hour. Its acquisition would give ArcelorMittal a new outlet for its subsidiary Downstream (formerly Distribution).
ArcelorMittal has also announced the commissioning of a photovoltaic park of 15ha on one of its sites in Fos-sur-Mer (Bouches-du-Rhône). However, the project is expected to benefit EDF Énergies Nouvelles to optimise its property assets.