Masdar achieved first closing on the acquisition of 50 percent of a 1.6 GW portfolio in the US
Post date: 09/02/2021 - 10:46
Masdar Clean Energy of the UAE has achieved the first closing on the acquisition of 50 percent of a 1.6 GW clean-energy portfolio in the United States from EDF Renewables North America. The companies announced last year that they had agreed to partner in eight renewable energy projects, including three utility-scale wind projects in Nebraska and Texas totalling 815 MW, and five photovoltaic solar projects in California totalling 689 MW – two of which include lithium-ion battery energy storage systems representing 75 MW.
Of the five projects in California, four already started commercial operations. As reported, these include the »Desert Harvest 1« and »Desert Harvest 2«, which total 213 MW, and the »Maverick 1« and »Maverick 4« PV projects which total 309 MW. The final project in California is »Big Beau«, a 128 MW PV and 40 MW/160 MWh battery energy-storage system, which is in Kern County and will reach commercial operation in December 2021. All three wind projects are currently in the final stage of construction and expected to begin commercial operations in the first quarter of this year.
Power from the diversified portfolio projects will be sold under long-term contracts to a variety of off takers, including utilities and community choice aggregators.