EDF Renewables and PGGM Enter Sale and Purchase Agreements

EDF Renewables Shares Plan for 80 MW Wind Project in Ireland

EDF Renewables will remain a 50 percent co-owner and provide management as well as operations and maintenance services.

EDF Renewables has signed two sale and purchase agreements which will authorize PGGM Infrastructure Fund to acquire a 50 percent ownership interest in the following projects: Glacier’s Edge Wind and Valentine Solar.

The transaction for the acquisition of 332 MW capacity projects is subject to regulatory approval and customary conditions precedent.

EDF will remain a 50 percent co-owner and provide management as well as operations and maintenance services.

The agreement with EDF is part of PGGM’s fast-growing portfolio of investments in climate solutions for PFZW, the pension fund for Dutch healthcare workers. Subsequently, PGGM Infrastructure Fund has to its investments portfolio a total of €7 billion in private as well as public projects.

These investments are expected to generate market rate financial returns for the company and have measurable positive impact on the world’s carbon footprint.

Director, Divestiture and Portfolio Strategy, EDF, Nate McMurry said, “PGGM is an ideal partner for this large portfolio of EDF Renewables developed projects. Their focus on long-term investments and interest in a diverse portfolio of wind and solar projects is well aligned with our strategy in North America. This equity partnership with PGGM will help to facilitate EDF Renewables growth.”

Head of Infrastructure, PGGM, Erik van de Brake said, “EDF Renewables has a long track record of successful investments in the American sustainable energy market. The PGGM Infrastructure Fund is looking forward to building a strong long-term partnership with EDF Renewables.’’