EDF Renewables North America, Solar Developer Transact On A 4.5 Gigawatt (GWac) Solar Development Portfolio In PJM, Will Assist EDF In Meeting Retail Customer Demand

EDF Renewables North America (EDFR) and Geenex Solar, LLC (Geenex) announced the close of an agreement of up to 4.5 gigawatt (GWac) pipeline of solar development assets throughout PJM.

"The pipeline acquisition brings to EDF Renewables the regional development expertise of Geenex, a leader of utility-scale solar development, while EDFR contributes with its financial and late-stage development expertise from a long-term owner and operator perspective. The transaction will accelerate EDFR growth in the PJM wholesale electricity market to meet the growing demands of corporate and utility customers seeking cost-effective renewable energy sources," EDFR said

The portfolio of project assets in the transaction exceed 20 solar projects in various stages of development. The first projects expect commercial operation in 2023 with other projects to follow.

Geenex is a developer of greenfield utility-scale solar projects ranging in size from 20 megawatt (MW) to more than 400 MW. Prior to this transaction, Geenex had a development pipeline that had led to over 1.9 GW of solar development sales