Dutch fund buys 50% in 588-MW US wind & solar portfolio from EDFR

Independent power producer EDF Renewables (EDFR) has agreed to sell to PGGM Infrastructure Fund a 50% stake in a wind and solar portfolio of 588 MW.

EDFR said today it expects to announce another transaction with the same fund, now that they have established a a new business relationship.

PGGM’s investment is in line with a plan to build a EUR-20-billion (USD 23.1bn) impact investment portfolio for its client PFZW, the Dutch healthcare pension fund. The latter aims to make a positive impact on climate, water scarcity, food security and healthcare, said PGGM’s head of infrastructure Erik van de Brake.

The portfolio includes the following projects:

“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,” said EDF Renewables’ executive vice president of strategy, Raphael Declercq.

Following completion of the deal, subject to regulatory approval and customary conditions precedent, EDF Renewables will act as co-owner of the projects, providing management services and operations and maintenance (O&M) services.

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