EDF Renewables in China is acquiring a majority stake in 77MW of rooftop photovoltaics from Chinese investor Asia Clean Capital (ACC).
ACC and EDF Renewables have been partners in the construction and operation of a shared portfolio of roof-mounted distributed solar projects, commissioned over 2017 and 2018. ACC retains a minority shareholding.
Each project is covered by a power purchase agreement with major multinationals.
The solar arrays are located as close as possible to companies and factories wanting to produce and use their own renewable energy, including Danone, Coca Cola and Nestle, as well as Chinese industrial groups, such as Wahaha and Wuhan Iron & Steel.
This acquisition takes EDF Renewables’ clean energy capacity under construction or in operation in China to more than 413MW, including nearly 100MW of rooftop solar capacity in operation under a partnership with ACC.
This transaction forms part of the EDF Group’s Cap 2030 strategy, which aims to double renewable capacity between 2015 and 2030 in France, and globally, to 50GW.