EDF Renewables eyes C&I market growth with EnterSolar acquisition

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A C&I rooftop PV installation from EnterSolar. Image: EnterSolar.

EDF Renewables North America has acquired 100% of US distributed generation company EnterSolar, as it aims to capitalise on accelerating growth in the commercial and industrial (C&I) solar market.

The deal sees EDF Renewables take full control of the New York-headquartered firm after acquiring a 50% stake in 2018. EnterSolar will be able to benefit from EDF’s equipment procurement capabilities, project development capital and additional product offerings, the companies said.

EnterSolar has a 15-year track record of providing behind-the-meter solar and solar-plus-storage solutions for a range of corporate clients in the US, including Amazon, Target and PepsiCo. The company installed 59MW of solar capacity in 2020.

As a wholly owned subsidiary, EnterSolar will operate as part of EDF Renewables North America’s distributed solutions group.

“The initial investment in EnterSolar proved to be the absolute right partnership for synergy between EDF Renewables North America’s strengths and EnterSolar’s expertise in the C&I market,” said Raphael Declercq, EVP of distributed solutions and strategy at EDF Renewables North America. “We are excited today to further our ambitions as one company to provide customers with a wider choice of product offerings to meet the growing demand for distributed energy solutions.”

The deal follows a flurry of similar transactions involving US-based C&I solar project developers: EDP Renewables recently acquired C2 Omega, the distributed solar platform of renewables investor C2 Energy Capital, while Distributed Solar Development this week closed a US$300 million debt facility to develop a range of new projects, months after BlackRock took full control of the company.  

Last year saw German renewables developer BayWa r.e. buy C&I solar and energy storage solutions provider Enable Energy, and Blackstone announced the formation of a new portfolio company, ClearGen, which will finance and own distributed generation assets. The investment firm said the market for on-site renewable projects is expanding as C&I players look to improve the sustainability of their operations and respond to power cuts caused by extreme weather. 

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