Masdar Completes Acquisition Of US 128MW Solar Stake


                 Masdar has further expanded its presence in the US  after closing the acquisition of a 50% in a combined solar and battery storage project from EDF Renewables North America. The Big Beau project (pictured), located in California, comprises a 128MW solar plant and a 40MW battery energy storage system. It is one of eight projects that Masdar and EDF Renewables have agreed to jointly partner in, with a combined capacity of 1.6GW. Chairman of Masdar, Sultan Al Jaber said: “Big Beau and the other projects that we are operating with EDF Renewables are already making an active contribution to US clean energy targets, highlighting the strength of the UAE-US relationship that the recent PACE announcement seeks to build on. “If we are to keep the objective of limiting global warming to 1.5 degrees alive, we need to see countries coming together in concerted action – one of the key areas of focus for the upcoming COP28 in the UAE.

                  “Partnerships between companies like Masdar and EDF Renewables are also vital in ensuring we hold back emissions, not progress.” President and chief executive of EDF Renewables North America Tristan Grimbert added: “EDF Renewables’ partnership with Masdar enjoys a successful history and today we celebrate another project to add to the growing portfolio. “Decarbonization of the energy sector will take the combined effort of developers, offtakers, and investors alike working in collaboration toward ambitious goals.  “We are grateful for our productive partnership with Masdar built on a foundation of progress.” Masdar and EDF Renewables North America agreed in 2020 to jointly partner in the 1.6GW portfolio. This includes three utility-scale wind projects in Nebraska and Texas totalling 815MW, and five solar projects in California totaling 689MW, two of which include battery energy storage systems representing 75MW. All of the projects are operational, and combined they are displacing more than 3 million tonnes of emissions per year. 





Credits: [Image: Masdar]

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