File photo
File photo
A United Arab Emirates investment company has acquired half of the stake in 1.6-GW of clean energy portfolio projects in the country.
Power Engineering reported EDF Renewables North America has joined forces with Masdar to invest in wind, solar photovoltaic and energy storage. The new investment marks Masdar’s second renewable investment in the U.S. Its first was an acquisition of a 50% interest in wind farms in Texas and Mexico.
“As the second-largest renewable energy producer in the world in terms of installed power capacity, the U.S. offers considerable scope for further growth and diversification of our renewable energy portfolio,” Masdar’s CEO Mohamad Jameel Al Rahamahi said. “We are delighted to expand our presence there through this landmark deal to invest in eight clean energy assets in California, Nebraska and Texas, and to further strengthen our global partnership with EDF Renewables.”
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