Munich Re acquires share people PV, battery projects

• Investor has actually taken a 50% stake in California projects that comprise 310MW (DC) of solar and also 50MW of BESS

Munich Re has actually closed a handle EDF Renewables to acquire a 50% risk in 2 projects in California amounting to 310MW (DC) of solar and 50MW of battery storage.

MEAG, acting in its capacity as Munich Re's international asset manager, shut the investment, adhering to on from EDF Renewables and also MEAG/Munich Re agreeing in 2021 to partner on the Maverick 6 Solar-plus-Storage Project (131MW, DC) combined with a 50MW battery as well as the Maverick 7 solar project (179MW, DC).

The projects, which use horizontal single-axis tracking modern technology, are located beside one another in Riverside County California on government lands within a Solar Energy Zone as well as Development Focus Area, managed by the United States Bureau of Land Management (BLM).

Andres Estrada, Divestiture & Portfolio Strategy Manager for EDF Renewables, said: "While a predictable policy setting and also reliable supply chain are key to the market's development, so is the consistent, long-lasting method to buying the growth of the low-carbon economic situation from institutional partners like MEAG."