EDF Renewables, PGGM sign deal involving 332MW portfolio of PV, wind energy

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
Valentine Solar has a generation capacity of 132MW and is located in Kern County, California. Image: EDF

EDF Renewables North America has signed off on two Purchase and Sale Agreements (PSA) that will see PGGM Infrastructure Fund acquire a 50% ownership interest in both Glacier’s Edge Wind and Valentine Solar.

In total, the combined generation capacity of these two projects is 332MW. Valentine Solar has a generation capacity of 132MW and is located in Kern County, California.

This latest deal follows an earlier agreement between EDF and PGGM revolving around three projects for 588MW. EDF Renewables will remain a 50% co-owner and provide management as well as operations and maintenance services.

This transaction with EDF Renewables stands as part of PGGM’s growing portfolio of investments in climate solutions for PFZW, the pension fund for Dutch healthcare workers.

Nate McMurry, director, divestiture and portfolio strategy for EDF Renewables, said: “PGGM is an ideal partner for this large portfolio of EDF Renewables developed projects. Their focus on long-term investments and interest in a diverse portfolio of wind and solar projects is well aligned with our strategy in North America. This equity partnership with PGGM will help to facilitate EDF Renewables growth.”

Erik van de Brake, head of infrastructure at PGGM, added: “EDF Renewables has a long track record of successful investments in the American sustainable energy market. The PGGM Infrastructure Fund is looking forward to building a strong long-term partnership with EDF Renewables.’’

Read Next

April 14, 2021
Meyer Burger is on track to start shipments of its first heterojunction (HJ) solar modules made in Germany to distributors in July.
April 12, 2021
A consortium between Abu Dhabi-based Masdar, EDF Renewables and Nesma Holding Company has broken ground on a 300MW PV project in Saudi Arabia.
March 31, 2021
DNV has released the world’s first recommended practice (RP) for floating solar projects to help reduce risks for developers and increase investor confidence in the segment.
March 25, 2021
Thin-film laser systems equipment supplier LPKF Laser & Electronics suffered from delays in receiving new expected orders from two long-stand customers last year.
March 23, 2021
Lightsource bp has been selected to build, own and operate seven solar arrays in Pennsylvania that will provide nearly half of the state government’s electricity.
March 4, 2021
A round-up of the latest solar project news from around the world, including updates from Hanwha Q CELLS and Capital Dynamics.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 20, 2021
Upcoming Webinars
April 28, 2021
4:00 - 4:30 PM CET
Solar Media Events
May 11, 2021