Investment Capitalizes on Accelerating Growth in C&I Solar Market
SAN DIEGO and NEW YORK CITY (September 24, 2018) – EDF Renewables North America (EDF Renewables), a leading developer in the renewable energy sector and EnterSolar, a leading provider of distributed generation solar solutions to corporate commercial and industrial (C&I) customers, today announced a strategic partnership whereby EDF Renewables will acquire a 50 percent interest in EnterSolar. Together, the companies will offer C&I customers the most comprehensive array of behind-the-meter services.
The partnership leverages EDF Renewables’ unparalleled experience in renewable energy and storage, and its proven long-term expertise in distributed solar solutions to corporate C&I customers internationally, along with EnterSolar’s 12-year solid track record in developing behind-the-meter solar photovoltaic projects for a broad range of corporate clients. As part of the agreement, EDF Renewables is providing growth capital as well as additional project financing capabilities to EnterSolar.
The partnership will allow both entities to capitalize on the strong and accelerating demand for distributed generation solutions from the corporate C&I sector. “We are delighted to announce this partnership with EDF Renewables, which, in conjunction with a strategic investment, provides EnterSolar with enhanced growth opportunities and the ability to further advance our goal of becoming the preferred provider of distributed generation solar solutions to the corporate marketplace,” stated Paul Ahern, president, EnterSolar.
“We are impressed with the quality of the EnterSolar team and the striking natural fit between our offerings. EnterSolar has a remarkable customer satisfaction track record with C&I customers, while EDF Renewables Distributed Solutions brings strength and experience specific to ground-mount solar projects up to 30 MWp alongside behind-the-meter battery storage for the C&I sector. This new partnership will benefit from complementary synergies,” said Raphael Declercq, executive vice president, EDF Renewables. “The partnership now provides our customers with a wider choice of comprehensive distributed energy solutions.”