EDF Renewables in China is acquiring a majority stake in a 77 MWp rooftop PV assets portfolio from Asia Clean Capital (ACC), one of China’s biggest firms in this segment, for local and multinational companies and industries.
For the past year, ACC and EDF Renewables have been in partnership in the construction and operation of a shared B2B portfolio of roof-mounted distributed solar projects.
Distributed solar plant (2.45 MWp)
Commissioned over 2017 and 2018, the 17 rooftop solar facilities represent a total capacity of 77.1 MWp.
Each project, covered by a Power Purchase Agreement with major multinational companies, is located as close as possible to companies and factories who wish to produce and use their own renewable energy – including Danone, Coca Cola and Nestlé, as well as Chinese industrial Groups such as Wahaha and Wuhan Iron & Steel.
EDF Renewables has acquired a majority stake in this portfolio of rooftop PV projects through a joint venture in which the ACC Group, which developed and built the projects, retains a minority stake in the projects.
This acquisition takes EDF Renewables’ clean energy gross capacity (wind and solar) under construction or in operation in China to more than 413 MW, including nearly 100 MWp gross of rooftop solar capacity in operation under a partnership with ACC.
This transaction forms part of the EDF Group’s Cap 2030 strategy, which aims to double renewable capacity between 2015 and 2030 in France and globally, taking it to a net 50 GW.
The EDF Group has been working in China for more than 30 years across several sectors of the country’s energy market, including renewables, nuclear and services.
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About EDF Renewables (previously EDF Energies Nouvelles)
EDF Renewables is a leading international player in renewable energies, with gross installed capacity of 13 GW worldwide. Its development is mainly focused on wind and solar photovoltaic power. EDF Renewables operates mostly in Europe and North America but is continuing to grow by moving into promising emerging regions such as Brazil, China, India, South Africa and the Middle East. The company has strong positions in offshore wind power, but also in other areas of the renewable energies industry such as energy storage. EDF Renewables develops, builds, operates and maintains renewable energies projects, both for itself and for third parties. EDF Renewables is the EDF Group subsidiary specialising in developing solar and wind power.
About Asia Clean Capital
Asia Clean Capital Ltd. (“ACC”) is a leading clean energy solutions developer that serves large multinational and domestic firms throughout China. Focused on rooftop solar projects, ACC invests 100 percent of the project costs and provides the design, engineering, equipment, government approvals, installation, and long-term maintenance of solar systems. All electricity produced is then provided to clients at agreed rates lower than when purchased from the local power grid. ACC’s project sites are typically large production facilities with electric demand from one to twenty megawatts, existing clients including Nestlé, Coca-Cola, Swire, Danone, Volkswagen, Unilever, Andritz, Fujitsu and others. The company has offices in Beijing, Shanghai, Tianjin and Hong Kong.