French electricity giant EDF Renewable Energy has signed an agreement for the acquisition of Global Resource Options ‘groSolar’, continuing its expansion in renewables in the US.
GroSolar specialises in the sale and installation of solar systems for both residential and commercial clients in the States, and claims to be a leading operator in the field of solar project development, with an average installation capacity of 5MWp.
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This acquisition comes as the latest development in EDF’s ventures into the North American renewable energy market. Earlier this month, it signed a 15-year PPA with Southern California Edison (SCE) for a 111.2MW AC PV power plant. To date, the company has developed over 8GW of renewable power generation projects and owns 4.1GW of installed power; operating a total of 10GW.
The transaction is expected to be completed in the coming weeks and its value is undisclosed at this time.
“Now integrated into EDF RE, groSolar will further strengthen the technical skills and expertise of the Group in the United States,” said Jean-Bernard Lévy, president and CEO of EDF, in a statement. “In line with its CAP 2030 strategy, this acquisition will enable EDF, through EDF EN Group its renewable arm, to offer this segment of commercial and industrial customers an ever-expanding range of competitive, decentralised and low-carbon solutions. This acquisition is a way to further anchor the Group's long-term presence in North America, a strategic geographic region for EDF's international development.”
