EDF Renewables and MEAG to partner in 310 MW US solar projects

EDF Renewables North America (EDFR) and MEAG, acting as Munich Re’s global asset manager, announced a strategic investment whereby a subsidiary of Munich Re will acquire a 50 percent stake in two renewable energy projects in California. The »Maverick 6« solar-plus-storage project has a capacity of 131 MW coupled with a 50 MW/200 MWh battery energy storage system. The »Maverick 7« solar project has a capacity of 179 MW. The projects, which utilize horizontal single-axis tracking technology, are located adjacent to one another in Riverside County on federal lands within a Solar Energy Zone and Development Focus Area, managed by the U.S. Bureau of Land Management (BLM). Both projects are in construction with operations to commence in December 2021.
The transaction, expected to close in the first quarter of 2022, is subject to customary regulatory approvals. Macquarie Capital acted as exclusive financial advisors.

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