Masdar, a UAE-based energy company, has concluded the purchase of a 50% interest in EDF Renewables North America’s solar and battery storage project.
Located in California, the Big Beau project includes a 128MW alternating current photovoltaic solar plant and a 40MW/160MWh battery energy storage system (BESS).
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The solar and BESS facility is one of eight projects with a 1.6GW capacity that the duo agreed to jointly develop.
The two agreed to develop three utility-scale wind projects in Nebraska and Texas with 815MW, and five solar projects in California with 689MW, of which two include BESS facilities with a 75MW capacity.
All the projects have commenced operations, and together have the potential to offset more than three million tonnes of carbon emissions annually.
EDF Renewables North America president and CEO Tristan Grimbert said: “EDF Renewables’ partnership with Masdar enjoys a successful history and today we celebrate another project to add to the growing portfolio.
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By GlobalData“Decarbonisation of the energy sector will take the combined effort of developers, off-takers and investors alike working in collaboration toward ambitious goals. We are grateful for our productive partnership with Masdar, built on a foundation of progress.”
With the completion of this acquisition, Masdar has further bolstered its presence in the US renewable energy market.
Masdar CEO Mohamed Jameel Al Ramahi said: “Masdar has a strong working relationship with EDF that originated in the Middle East and now extends across the globe, and we are pleased to further strengthen that relationship today.
“We are also committed to growing our activities in the US over the coming years and see it as an extremely important strategic market for Masdar.
“I look forward to growing our presence in the US as a developer and independent power producer, as part of our targeted global expansion of reaching at least 100 GW by the end of this decade.”
