EDF Renewables, PGGM Ink Pact on Solar, Wind Projects in US

EDF Renewables and partner up through PPA

As per the deal, PGGM Infrastructure Fund will acquire 50 percent ownership interest in all the four projects and the total capacity of the portfolio of projects is 588 MW.

Independent Power Producer (IPP) EDF Renewables has inked the Purchase and Sale Agreements (PSA) with PGGM Infrastructure Fund for its Red Pine Wind, Rock Falls Wind, Switch Station 1 Solar and Switch Station 2 Solar projects.

As per the deal, PGGM Infrastructure Fund will acquire 50 percent ownership interest in all the four projects and the total capacity of the portfolio of projects is 588 MW.

However, the completion of the transaction is subject to regulatory approval and customary conditions.

Also, EDF Renewables will remain involved in the projects as a co-owner providing management services and provider of operations and maintenance services.

Commenting on the development, EDF Renewables, Executive Vice President of strategy, Raphael Declercq said, “This portfolio of wind and solar projects provides an attractive investment opportunity in the US renewable energy sector, well suited for a large pension fund. We are pleased to forge a new business relationship with PGGM and expect to follow with another transaction. We are confident that our expertise as a developer and operator complements PGGM’s renewable energy investment strategy.”

EDF Renewables is one of the largest renewable energy developers in North America with 10 GW of wind, solar, storage, biomass and biogas projects developed throughout the US, Canada, and Mexico.