EDF acquires 4.5 GW US solar pipeline, targets more development in PJM market

• EDF Renewables North America has acquired a pipe of more than 20 US solar possessions from project designer Geenex Solar, amounting to more than 4.5 GW of ability.

The transaction includes a portfolio of up to 4.5 GWac of projects located in PJM, a local transmission organisation for 13 US states and also the District of Columbia, with the first parks anticipated to begin industrial procedure in 2023.

EDF said the bargain will certainly increase its growth in PJM to meet the expanding demands of corporate and energy consumers seeking economical renewable resource.

EDF Renewables and Geenex formerly teamed up on the growth and also building of the Pecan and also Gutenberg solar projects, which are located in North Carolina as well as were sold to Dominion Energy.

Hanson Wood, vice president, tactical development initiatives, EDF Renewables (EDFR), hailed Geenex Solar's local technique as well as method of entering markets early. "Geenex, as the largest owner of advancement properties in PJM market, allows EDF Renewables to broaden right into over five vital states where solar is positioned to be a market-leading technology," he stated.

Founded in 2012, Geenex is concentrated on PJM interconnected projects in the United States Southeast and also Midwest, and also has created solar parks ranging in size from 20MW to more than 400MW.

"Having an industry leader such as EDFR acknowledge the toughness as well as worth of Geenex-developed projects is quite a testimony to the hard work of the Geenex Solar group. Our regional method has allowed us to build a competitive development pipeline of over 20 projects in the PJM market," said Georg Veit, CEO of Geenex.

EDF Renewables' North American profile contains 16GW of developed projects and 11GW under service contracts. The firm earlier this year sold a 50% stake in 689MW of US solar assets to Abu Dhabi-based Masdar.