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Masdar, one of the fastest growing clean energy companies in the world, has further expanded its presence in the US renewable energy market after completing the acquisition of a 50% stake in a combined solar and battery energy storage project. The stake was purchased from EDF Renewables North America.
The Big Beau project in California includes a 128 megawatt (MWac) photovoltaic (PV) solar plant and a 40 MW/160 MWh battery energy storage system. It is one of eight projects with a total capacity of 1.6 gigawatts (GW) that Masdar and EDF Renewables have agreed to work together on.
Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman-designate of COP28 and Chairman of Masdar, said: “Big Beau and other projects we have partnered with EDF Renewables are already contributing positively to America’s clean energy goals, underscoring the recent The strength of the UAE-U.S. relationship that the PACE announcement seeks to build. If we are to maintain our goal of limiting global warming to 1.5 degrees, we need to see countries come together and take concerted action – a focus of the upcoming COP28 in the UAE One of the areas of focus. Partnerships between companies like Masdar and EDF Renewables are also critical to ensuring we stop emissions rather than progress.”
Growing Portfolio
Tristan Grimbert, President and CEO of EDF Renewables North America, said: “EDF Renewables has a successful history of partnership with Masdar and today we celebrate another project to add to our growing portfolio. Decarbonization of the energy sector will It will take developers, off-takers and investors working together to achieve this ambitious goal. We are delighted to build on this progress and build on a productive partnership with Masdar.”
Masdar and EDF Renewables North America agree to jointly develop a 1.6 GW portfolio in 2020, including three utility-scale wind projects totaling 815 MW in Nebraska and Texas, and The five solar projects in California total 689 MW – two of which include battery energy storage systems representing 75 MW. All projects are operational and together reduce emissions by more than 3 million tons per year.
In January, UAE and US officials announced that they would allocate $20 billion to fund 15 GW of clean energy projects in the US by 2035 under the Partnership for Accelerated Clean Energy (PACE), led by Masdar and a Led by a consortium of private US investors. two countries.
working relationship
Mohamed Jameel Al Ramahi, CEO of Masdar, said: “Masdar has a strong partnership with EDF, which originated in the Middle East and now extends globally, and we are delighted to strengthen it even further today. We also Committed to expanding our activities in the U.S. in the coming years and seeing it as an extremely important strategic market for Masdar. I look forward to expanding our presence in the U.S. as a developer and IPP as we move to this Part of a global expansion target of at least 100 GW by the end of the decade.”
EDF Renewables is one of North America’s largest developers of renewable energy, dedicated to providing solutions to decarbonize the energy industry. With 35 years of experience, having developed 16 GW of wind, solar and storage projects, and 13 GW of operation and maintenance contracts, EDF Renewables provides integrated energy solutions from grid-scale power to electric vehicle charging.
Masdar recently announced a new shareholding structure and an increased focus on green hydrogen, making it one of the largest clean energy companies of its kind. Targeting 100 GW of renewable energy capacity and 1 million tons of green hydrogen per year by 2030, the new Masdar is a clean energy power station that will spearhead the UAE’s 2050 Net Zero Emissions Strategic Plan and drive Global energy transition. — trade arab news agency
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