M&As this week: EDF Renewables North America, SSE, AlsoEnergy

28 September 2018 (Last Updated September 28th, 2018 10:03)

EDF Renewables North America has entered a partnership with EnterSolar to provide behind-the-meter energy storage services to corporate commercial and industrial (C&I) customers.

EDF Renewables North America has entered a partnership with EnterSolar to provide behind-the-meter energy storage services to corporate commercial and industrial (C&I) customers.

EDF Renewables will acquire a 50% interest in EnterSolar, as part of the transaction. It will also provide growth capital and project financing to EnterSolar.

The partnership will enable the two companies to meet and improve the demand for distributed energy solutions from the C&I customers.

EnterSolar is a solar photovoltaic solutions provider, while EDF Renewables North America is a subsidiary of EDF Renewables and supplies wind and solar solutions. Both companies are based in the US.

SSE plans to acquire the remaining 50% interest in Seagreen Wind Energy from Fluor for £118m ($155m).

“The project is expected to improve the renewable energy generation capacity of Scotland and meet the renewable energy targets of Scotland and the UK.”

Seagreen Wind Energy is developing the 1.5GW Seagreen offshore wind project in the outer Firth of Forth and Firth of Tay in Scotland. The first phase of the project comprises the Alpha and Bravo offshore windfarms.

The project is expected to improve the renewable energy generation capacity of Scotland and meet the renewable energy targets of Scotland and UK.

SSE is a UK energy company, while Fluor Corporation is a US-based provider of engineering, procurement and construction services.

AlsoEnergy plans to merge with Locus Energy to create a combined company led by the former.

Locus Energy’s previous owner Genscape will retain a minority equity stake in the combined company.

AlsoEnergy is a provider of renewable energy software solutions, while Locus Energy supplies market data and intelligence in various energy sectors. Both entities are based in the US.

The merger is expected to bolster AlsoEnergy’s ability to deliver a wide range of solutions to different market segments across the world, as well as improve its customer and engineering support services.