EDF Renewables acquires 50% stake in EnterSolar

26 September 2018 (Last Updated September 26th, 2018 09:54)

EDF Renewables North America and EnterSola have entered into a strategic partnership to offer behind-the-meter services to corporate commercial and industrial (C&I) customers.

EDF Renewables North America and EnterSola have entered into a strategic partnership to offer behind-the-meter services to corporate commercial and industrial (C&I) customers.

As part of the partnership, EDF Renewables will acquire 50% interest in EnterSolar.

"The partnership now provides our customers with a wider choice of comprehensive distributed energy solutions."

In addition, EDF Renewables has agreed to provide growth capital and additional project financing capabilities to EnterSolar.

EDF Renewables executive vice-president Raphael Declercq said: “We are impressed with the quality of the EnterSolar team and the striking natural fit between our offerings.

“EnterSolar has a remarkable customer satisfaction track record with C&I customers, while EDF Renewables Distributed Solutions brings strength and experience specific to ground-mount solar projects up to 30MWp alongside behind-the-meter battery storage for the C&I sector.

“This new partnership will benefit from complementary synergies. The partnership now provides our customers with a wider choice of comprehensive distributed energy solutions.”

Under the new partnership, the two companies intend to capitalise on the demand for distributed generation solutions from the corporate C&I sector.

EnterSolar president Paul Ahern said: “We are delighted to announce this partnership with EDF Renewables, which, in conjunction with a strategic investment, provides EnterSolar with enhanced growth opportunities and the ability to further advance our goal of becoming the preferred provider of distributed generation solar solutions to the corporate marketplace.”

Based in New York City, EnterSolar has been providing solar photovoltaic solutions to the commercial marketplace.