Abu Dhabi, United Arab Emirates, and San Diego, United States: Masdar, one of the world’s leading renewable energy companies, announced today that it has achieved the first closing on the acquisition of 50 percent of a 1.6-gigawatt (GW) clean-energy portfolio of projects in the United States from EDF Renewables North America.
Masdar and EDF Renewables North America announced last year that they had agreed to partner in eight renewable energy projects, including three utility-scale wind projects in Nebraska and Texas totalling 815 megawatts (MW), and five photovoltaic (PV) solar projects in California totalling 689 MW – two of which include lithium-ion battery energy storage systems representing 75 MW.
Of the five projects in California, four started commercial operations in December 2020, all located in Riverside County. These include the Desert Harvest 1 and Desert Harvest 2 PV projects, which total 213MWdc of solar, and the Maverick 1 and Maverick 4 PV projects which total 309 MWdc. The final project in California is Big Beau, a 128 MWdc solar PV and 40 MW/160 MWh battery energy-storage system, which is in Kern County and will reach commercial operation in December 2021.
“This is a significant milestone in our collaboration with EDF Renewables North America, with these projects now actively contributing to US renewable energy objectives,” said Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar. “As the second-largest renewable energy producer in the world in terms of installed power capacity, the US offers considerable scope for further growth, and with President Joe Biden having made clean energy investment a key priority for his administration, we clearly anticipate greater opportunities in this market.”
“I am very pleased to extend to the United States, our historic partnership with Masdar established in the Middle East. The US renewables market represents a highly attractive growth potential. It is also a major market for EDF Renewables where we have achieved a leading position in the last three decades, both in solar and wind energies but also in battery energy storage systems. Through this new cooperation with Masdar, we will continue to build on our joint successes”, added Bruno Bensasson, EDF Group Senior Executive Vice-President Renewable Energies and Chairman and Chief Executive Officer of EDF Renewables.
Power from the diversified portfolio projects will be sold under long-term contracts to a variety of offtakers, including utilities, hedge providers and community choice aggregators (CCAs).
In total, the eight projects have created more than 2,000 jobs in the country’s clean energy sector, and will displace more than 3 million metric tons of carbon dioxide annually*.
*According to United States Environmental Protection Agency Greenhouse Gas Equivalencies Calculator based on estimated energy production. https://www.epa.gov/energy/greenhouse-gas-equivalencies-calculator
About EDF Renewables
EDF Renewables North America is a market leading independent power producer and service provider with 35 years of expertise in renewable energy. The Company delivers grid-scale power: wind (onshore and offshore), solar photovoltaic, and storage projects; distributed solutions: solar, solar+storage, EV charging and energy management; and asset optimization: technical, operational, and commercial skills to maximize performance of generating projects. EDF Renewables’ North American portfolio consists of 16 GW of developed projects and 11 GW under service contracts. EDF Renewables is a subsidiary of EDF Renouvelables, the dedicated renewable energy affiliate of the EDF Group.
For more information, visit: www.edf-re.com
Sandi Briner firstname.lastname@example.org
Abu Dhabi’s renewable energy company Masdar is advancing the commercialization and deployment of renewable energy, sustainable urban development and clean technologies to address global sustainability challenges. Wholly owned by Mubadala Investment Company, the strategic investment company of the Government of Abu Dhabi, our mandate is to help maintain the UAE’s leadership in the global energy sector, while supporting the diversification of both its economy and energy sources for the benefit of future generations. Today, Masdar is active in more than 30 countries, including the UAE, Jordan, Saudi Arabia, Mauritania, Egypt, Morocco, the UK, the US, Australia, Spain, Serbia, India, Indonesia, Uzbekistan, and many more.
Tel enquiries in Arabic: +971 2 653 3333
Tel enquiries in English: +971 2 653 6014
For more information please visit: http://www.masdar.ae and connect: facebook.com/masdar.ae and twitter.com/masdar
© Press Release 2021