Canadian energy company Enbridge has signed an agreement with EDF Renewables North America to aid in the construction and operation of the Fox Squirrel solar project in the US state of Ohio.
The companies have agreed to form a joint venture to manage the project, of which each will own 50%. The project, which is currently under construction in Madison County, will be brought online in three phases, with the first phase, comprising 150MW of capacity, expected to come online by the end of this year. The companies expect to commission the entirety of the project, and its 577MW of capacity, by the end of 2024.
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“Solar energy plays a key role in decarbonising the PJM grid [in the north-east of the US] in a safe, reliable, and affordable manner,” said Ryan Pfaff, executive vice president of grid-scale power for EDF Renewables. “We look forward to completing Fox Squirrel Solar and supporting this transition.”
Enbridge also noted that it plans to invest US$149 million into the first phase of construction and commissioning, while EDF has not announced how much it plans to invest into the project. The companies have also signed a 20-year power purchase agreement for electricity generated at the project with what Enbridge called a “strong investment grade counterparty”.
The news is the latest renewable investment for the two companies, following EDF’s completion of a solar project in Nevada last week, and Enbridge’s acquisition of US renewables developer Tri Global Energy in September last year. Enbridge has invested in a large portfolio of renewable projects, including 23 wind projects with a combined capacity of 4.8GW and 14 solar farms with a combined capacity of 228MW, not including its involvement in the Fox Squirrel project.
“This partnership expands Enbridge’s strategic relationship with EDF Renewables while driving accretive renewables growth in North America,” said Matthew Akman, executive vice president of corporate strategy and president of power at Enbridge.