Resources

Passivated Emitter and Rear Cell

PV cell technology with rear passivation layer. Current market standard.

Tunnel Oxide Passivated Contact

Cell with tunnel oxide layer. Better efficiency than PERC, strong growth.

Heterojunction Technology

Hybrid crystalline + amorphous silicon cell. Max efficiency, good thermal coefficient.

Performance Ratio

Ratio between actual and theoretical production. Key plant performance KPI (75-85%).

Global Horizontal Irradiance

Total solar irradiation on horizontal surface. Expressed in kWh/m²/year.

Battery Energy Storage System

Battery storage system. Usually Li-ion (LFP) for utility-scale.

Lithium Iron Phosphate (LFP)

Cobalt-free battery chemistry. Standard for stationary storage (safety, cost).

Balance of System

All components besides modules: cables, connectors, protections, monitoring.

Levelized Cost of Energy

Levelized cost of electricity production over the asset's lifetime. Expressed in €/MWh.

Internal Rate of Return (French: TRI)

Discount rate that zeroes out the NPV. Key indicator of project profitability.

Net Present Value (French: VAN)

Sum of discounted cash flows minus initial investment.

Debt Service Coverage Ratio

Debt coverage ratio. Cash flow / Debt service. Typically 1.2x minimum.

Capital Expenditure

Upfront investment expenditure. For PV: 650–850 €/kWp (utility-scale, France).

Operating Expenditure

Annual operating expenditure. O&M, insurance, land lease, taxes. ~15–25 €/kWp/yr.

Special Purpose Vehicle

Dedicated project company that ring-fences project risks from the sponsor.

Engineering, Procurement, Construction

Turnkey contract for plant construction. Includes performance guarantees.

Power Purchase Agreement

Long-term power purchase contract between a producer and an offtaker (corporate or utility).

Virtual Power Purchase Agreement

Financial PPA (Contract for Difference). No physical delivery; settlement based on price differential.

—

Exposure to spot market price without long-term contract. Higher price risk.

Guarantee of Origin / Green Certificate

Certificate proving the renewable origin of electricity. 1 GO = 1 MWh.

Frequency Containment Reserve

Primary reserve ancillary service. Automatic response to frequency deviations.

Virtual Power Plant

Aggregation of multiple decentralized assets managed as a single virtual plant.

Feed-in Tariff (French: Obligation d'Achat)

French support mechanism with a guaranteed tariff over 20 years. Open window for systems ≤500 kWp.

French Energy Regulatory Commission (Commission de Régulation de l'Énergie)

French energy regulator. Manages PV tenders for systems >500 kWp.

Multi-Year Energy Plan (Programmation Pluriannuelle de l'Énergie)

French energy roadmap setting renewable capacity targets by technology.

Renewable Energy Directive III

EU directive setting a 42.5% renewable share in the EU energy mix by 2030.