Masdar completes acquisition of US 128MW solar stake

Apr 12, 2023 12:04 PM ET
  • Developer has actually acquired a 50% share in project from EDF Renewables North America, that includes 40MW of storage
Masdar completes acquisition of US 128MW solar stake
Image: Masdar

Masdar has actually better increased its visibility in the US after shutting the acquisition of a 50% in a consolidated solar and also battery storage project from EDF Renewables The United States And Canada.

The Big Beau project (envisioned), located in California, consists of a 128MW solar plant as well as a 40MW battery energy storage space system.

It is among eight projects that Masdar and also EDF Renewables have actually accepted jointly partner in, with an incorporated capacity of 1.6 GW.

Chairman of Masdar, Sultan Al Jaber stated: "Big Beau and also the various other projects that we are operating with EDF Renewables are already making an active contribution to US clean energy targets, highlighting the strength of the UAE-US connection that the current PACE news looks for to improve.

" If we are to maintain the objective of limiting global warming to 1.5 degrees active, we require to see countries collaborating in collective action-- one of the key areas of focus for the upcoming COP28 in the UAE.

" Partnerships between business like Masdar and also EDF Renewables are also crucial in ensuring we hold back emissions, not progress."

President as well as president of EDF Renewables North America Tristan Grimbert added: "EDF Renewables' partnership with Masdar appreciates a successful history and also today we commemorate another project to add to the expanding portfolio.

" Decarbonization of the power market will certainly take the combined effort of developers, offtakers, and investors alike operating in partnership towards ambitious goals.

" We are grateful for our productive partnership with Masdar built on a foundation of progress."

Masdar and also EDF Renewables North America agreed in 2020 to collectively partner in the 1.6 GW portfolio.

This consists of 3 utility-scale wind projects in Nebraska and Texas totalling 815MW, and 5 solar projects in California completing 689MW, 2 of that include battery energy storage space systems representing 75MW.

All of the projects are functional, as well as combined they are displacing more than 3 million tonnes of emissions annually.

Source:
renews.biz

1137


SOLAR DIRECTORY
Solar Installers, Manufacturers