Masdar makes United States solar debut with 'landmark' manage EDF

Aug 14, 2020 05:12 PM ET
  • Abu Dhabi-based Masdar will acquire a 50% risk in 689MW of solar properties from EDF in the United States, marking its initial solar financial investment in the country.
Masdar makes United States solar debut with 'landmark' manage EDF
Image: EDF Renewables North America

Under the regards to the contract with EDF Renewables North America, Masdar has purchased a 50% passion in five PV projects in California-- two of that include battery power storage space systems-- amounting to 689MW of solar and 75MW of lithium-ion battery power storage space.

The company has actually additionally acquired the very same risk in three utility-scale wind ranches in Nebraska as well as Texas. In total amount, the offer sees Masdar acquire a 50% interest in a 1.6 GW clean power profile.

Masdar made its first entrance into the US renwables market last year, buying into two wind farms in Texas as well as New Mexico. Chief Executive Officer Mohamed Jameel Al Ramahi claimed the US uses "substantial extent for further development and also diversity" of the firm's renewable energy portfolio.

" We are delighted to broaden our presence there with this landmark deal to purchase eight tidy power assets in California, Nebraska and Texas, as well as to better strengthen our international collaboration with EDF Renewables," he claimed.

' A brand-new phase of collaboration'

Masdar is getting stakes in the Desert Harvest 1 and also Desert Harvest 2 PV projects in Riverside County, California, which amount to 213MW of solar and 35MW/140MWh of battery storage space. Also in Riverside County are the 173MW Maverick 1 as well as 136MW Maverick 4 solar PV projects. These 4 parks are under construction and also slated to start business procedures later this year.

The final solar project in the profile allows Beau, a 166MW solar PV and also 40MW/160MWh battery power storage space project, which lies in Kern County as well as is due to be totally operational in 2021.

Power from the projects will be offered under lasting agreements to a range of energies, bush companies and neighborhood choice aggregators.

The deal between EDF and also Masdar follows other partnerships in between both companies in North Africa and also the Middle East. EDF formerly joined the Masdar-led consortium responsible for the advancement of the 800MW third stage of the Mohammed bin Rashid Al Maktoum Solar Park in the United Arab Emirates. And Also along with Green Africa, the firms were chosen last year to deploy an 800MW three-way solar crossbreed in Morocco.

Tristan Grimbert, CEO of EDF Renewables North America, said the current offer writes "a new chapter of teamwork between our two companies focused on the North American market".

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