March 21 (Renewables Now) - EDF Renewables today said it has purchased a majority stake in a 77.1-MWp portfolio of rooftop solar plants in China from its joint venture (JV) partner Asia Clean Capital (ACC).
EDF and ACC formed a JV, aiming to build and operate distributed generation (DG) rooftop solar projects in China, mainly for business clients. The 17 assets included in the 77.1-MWp portfolio were brought online in 2017 and 2018 and operate under power purchase agreements (PPAs). Following the transaction, ACC will remain a minority shareholder in the projects, EDF said, explaining that the deal is in line with its goal to have 50 GW of renewables capacity in France and abroad by 2030.
The specific rooftop photovoltaic (PV) plants are located in proximity to the premises of companies willing to cover their electricity consumption with renewables, such as Danone (EPA:BN), Coca Cola (LON:CCH), Nestle (SWX:NESN) and Chinese industrial groups Wahaha and Wuhan Iron & Steel.
At present, EDF Renewables has over 413 MW of under-construction or operational wind and solar assets in China. The total includes almost 100 MWp of rooftop PV plants the company operates together with ACC.