A subsidiary of French green energy developer EDF Energies Nouvelles’ EDF Renewable Energy (EDF RE) has completed acquisition of US-based energy firm OwnEnergy, which includes its ‘pipeline of future wind projects’ amounting to nearly 2GW of renewable energy.
OwnEnergy presently has eight wind projects under its portfolio, either in construction or operating phases, totaling 329MW of developed wind energy assets sold to third parties.
Financial details about the project have not been disclosed.
EDF RE CEO and president Tristan Grimbert said: "OwnEnergy’s business model taps into the entrepreneurial spirit of farmers, ranchers and other community leaders across the country with a focus on the mid-size market of off-takers.
"Their community partner approach will continue under the EDF Renewable Energy brand."
OwnEnergy CEO Jacob Susman said: "Joining an entrepreneurial powerhouse like EDF Renewable Energy is a perfect fit for us."
Being a mid-sized wind project developer, OwnEnergy intends to set up more community-centric wind projects in collaboration with EDF RE.
Marathon Capital acted as the exclusive financial advisor for OwnEnergy.
EDF RE is presently one of the largest renewable energy companies in North America, with an existing portfolio comprising 6GW of wind, solar, biomass, biogas, and storage projects. The firm maintains an installed capacity of 3.2GW.
Image: Onshore wind turbine in a field. Photo: courtesy of dan / FreeDigitalPhotos.net.