EDF agrees acquisition of US solar company

EDF’s American subsidiary EDF Renewable Energy (EDF RE) has signed the deal, which will see Vermont-based Global Resource Options (groSolar) become part of EDF’s growing renewable energy global presence. It comes at a time when large-scale solar is stuttering in Europe, which may go some way to explain the company’s interest in further expansions overseas.

Well-established groSolar specializes in the development, sale and installations of PV plants for utilities, corporations and industrial operations, with an average installation capacity of 5 MWp. It has developed total installations of 150 MWp across the U.S, which gives it a solid base to support EDF RE’s solar activities immediately. “Now integrated into EDF RE, groSolar will further strengthen the technical skills and expertise of the Group in the United States,” said EDF President and CEO Jean-Bernard Lévy.

The move comes at a bleak time for large-scale solar PV projects in Europe, after a quiet year for the industry in the continent, which is poised to slow down further. EDF RE is already well-renowned in the U.S., after developing a total of 8 GW of renewable power generation projects and operating a total of 10 GW.

“This acquisition will enable EDF, through EDF EN Group its renewable arm, to offer this segment of commercial and industrial customers an ever-expanding range of competitive, decentralized and low-carbon solutions,” continued Lévy. “This acquisition is a way to further anchor the Group’s long-term presence in North America, a strategic geographic region for EDF’s international development.”

It’s not the only news regarding EDF’s energy expansions on Monday, as France’s economy minister announced that there will be a further delay on EDF’s decision to go ahead with a controversial plant to build the Hinkley Point C nuclear power in the U.K. The £18bn (US$26bn) nuclear plant has come under criticism from renewable energy advocates in the U.K., with a decision now not expected until September.