EDF Renewables North America has entered into a strategic partnership to acquire a 50% stake in EnterSolar, a distributed solar provider for corporate commercial and industrial customers.
Under the partnership agreement, the EDF Group affiliate will provide growth capital and project financing to EnterSolar, according to a Sept. 24 release.
The partnership plans utilize EDF Renewables' expertise in renewable energy and storage along with EnterSolar's 12 years of experience developing behind-the-meter solar projects. EDF said both companies believe they can benefit from accelerating demand for distributed generation solutions from the corporate commercial and industrial, or C&I, sector.
"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," EDF Renewables Executive Vice President Raphael Declercq said in a news release.
EDF Group and EDF Renewables are subsidiaries of Electricité de France SA.