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EDF signs an agreement for the acquisition of Global Resource Options, Inc, pursuing its expansion in renewables in the United States

  • Corporate
  • Solar

EDF Renewable Energy* (EDF RE), the EDF Group subsidiary responsible for renewable activities in the United States, has signed an agreement for the acquisition of Global Resource Options Inc. (doing business as “groSolar”), a player specialised in the development, sale and installation of solar photovoltaic plants for utilities, corporations, and industrial operators.

Established 18 years ago in Vermont, groSolar is comprised of approximately 50 employees and ranks among the leading operators in the U.S. in this specific segment of solar project development with an average installation capacity of 5 MWp. Recognised for its expertise and know-how, groSolar originates, develops, constructs, and offers end-to-end solutions for its customers.

Throughout its history, groSolar has developed more than 2,000 installations – or the equivalent of 150 MWp – across the United States, including Massachusetts, New Jersey, Pennsylvania, North Carolina, Connecticut, Indiana and California.

Established for almost 30 years in the United States, Canada and Mexico, today EDF RE, the American subsidiary of EDF Energies Nouvelles (EDF EN), is one of the largest players in the North American renewable energy market. The company has established itself as a key player in the growing corporate purchaser segment by signing 543 MW of supply contracts with major American firms such as Google, Microsoft and P&G. EDF RE, has developed over 8 GW of renewable power generation projects; owns 4.1 GW of installed power, and operates a total of 10 GW. The subsidiary has also just announced the construction of a future 115 MWp solar project in California.

On this occasion, Jean-Bernard Lévy, President and Chief Executive Officer of EDF, declared: “Now integrated into EDF RE, groSolar will further strengthen the technical skills and expertise of the Group in the United States. In line with its CAP 2030 strategy, this acquisition will enable EDF, through EDF EN Group its renewable arm, to offer this segment of commercial and industrial customers an ever-expanding range of competitive, decentralised and low-carbon solutions. This acquisition is a way to further anchor the Group’s long-term presence in North America, a strategic geographic region for EDF’s international development”.

The agreement is subject to customary conditions precedent to be satisfied in the coming weeks.

About EDF Energies NouvellesEDF Energies Nouvelles is a market leader in renewable energy electricity, with a portfolio of more than 9 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 Energies Nouvelles continues its development by taking strong positions in promising emerging areas such as Brazil, Chile, China, India or South Africa. The Company is also present in other segments of the renewable energy market: marine energy, biomass and distributed energies. EDF Energies Nouvelles manages renewable energy projects’ development and construction as well as operation and maintenance for its own account and for third parties. EDF Energies Nouvelles is a subsidiary of the EDF Group dedicated to renewable energy.

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