EDF buying majority stake in 77 MW of Chinese DG solar

Distributed solar generation in China. Image by: EDF Renewables (www.edf-renouvelables.com).

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.

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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