Investment Capitalizes on Accelerating Growth in C&I Solar Market.
SAN DIEGO and NEW YORK CITY (September 25, 2018) – EDF Renewables North America, the subsidiary of EDF Renewables, a leading developer in the renewable energy sector and EnterSolar, a leading provider of distributed generation solar solutions to corporate commercial and industrial (C&I) customers, today announced a strategic partnership whereby EDF Renewables will acquire a 50 percent interest in EnterSolar. Together, the companies will offer C&I customers the most comprehensive array of behind-the-meter services.
The partnership leverages EDF Renewables’ unparalleled experience in renewable energy and storage, and its proven long-term expertise in distributed solar solutions to corporate C&I customers internationally, along with EnterSolar’s 12-year solid track record in developing behind-the-meter solar photovoltaic projects for a broad range of corporate clients. As part of the agreement, EDF Renewables is providing growth capital as well as additional project financing capabilities to EnterSolar.
The partnership will allow both entities to capitalize on the strong and accelerating demand for distributed generation solutions from the corporate C&I sector.
“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,” stated Paul Ahern, president, EnterSolar.
“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 30 MWp alongside behind-the-meter battery storage for the C&I sector. This new partnership will benefit from complementary synergies,” said Raphael Declercq, executive vice president, EDF Renewables. “The partnership now provides our customers with a wider choice of comprehensive distributed energy solutions.”
Terms of the partnership were not disclosed.
About EDF Renewables
EDF Renewables is a market leader in renewable energy electricity, with a portfolio of 14,2 GW gross installed capacity focused for the most part on wind (onshore and offshore) and solar photovoltaic energy. Mostly operating in Europe and North America, EDF Renewables continues its development by taking strong positions in promising emerging areas such as Brazil, China, India, or South Africa, and North Africa and Gulf Cooperation Council regions. The Company is also present in other segments of the renewable energy market: marine energy, distributed energies and energy storage. EDF Renewables manages renewable energy projects’ development and construction as well as operations and maintenance for its own account and for third parties. EDF Renewables is a subsidiary of the EDF Group dedicated to renewable energy.
About EDF Renewables North America:
EDF Renewables North America is a market leading independent power producer and service provider with over 30 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 10 GW of developed projects and 10 GW under operations and maintenance 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
Based in New York City, EnterSolar is a leading provider of solar photovoltaic solutions to the commercial marketplace. Unique in its combination of business operations and solar expertise, the Company works with commercial enterprises to deliver optimal solar energy alternatives with compelling, long-term ROI. Expert in the dynamic legislative environment, EnterSolar provides clients with real-time guidance in order to best leverage financial incentives at the regional and state levels. For more information, visit: www.entersolar.com