Swedish electricity producer Vattenfall is planning to invest up to EUR1bn ($1.46bn) in French hydroelectric projects.
The company said it is emphasising its long-term strategic interest in France, which is offering hydropower concessions later this year.
France is renewing hydropower concessions for 5,300MW until 2015 and Vattenfall aims to obtain concessions for 1,000MW.
Vattenfall CEO Oystein Loseth said the company’s ambition is to grow in renewable energy and the upcoming hydropower opportunities in France fall well within this scope.
Earlier this week, the company opened a new office in the capital city of Paris.