EDF Renewable Energy buys groSolar

EDF Renewable Energy announced the acquisition of Global Resource Options, a privately owned company, which provides development and turnkey engineering, procurement and construction of solar photovoltaic projects for developers, financiers, utilities, corporate, government and other institutional clients.

The acquisition brings to EDF RE an autonomous business unit with a precise focus on distributed generation solar business to meet the growing demands of corporate customers seeking cost-effective renewable energy sources. Closing is subject to customary conditions precedent.

“The addition of an established and successful distributed generation business line contributes to our long-term growth plan to diversify the customer base and augments a comprehensive range of energy services that the EDF group offers to its customers worldwide.”

Since its founding in 1998, groSolar has designed, built, procured equipment and installed more than 150 MW (2,000 installations) of solar PV systems across the U.S.

EDF Renewable Energy is one of the largest renewable energy developers in North America with 8 GW of wind, solar, biomass, biogas, and storage projects developed and an installed capacity of 4.1 GW.

As part of the EDF Group, EDF RE works closely with EDF Energy Services and DK Energy. Through these affiliate companies, EDF RE is able to facilitate product offerings that form a complete suite of services including energy supply, hedging strategies and risk management products along with options for demand response and on-site generation management.

Marathon Capital served as exclusive financial advisor to groSolar.

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The Clarion Energy Content Team is made up of editors from various publications, including POWERGRID International, Power Engineering, Renewable Energy World, Hydro Review, Smart Energy International, and Power Engineering International. Contact the content lead for this publication at Jennifer.Runyon@ClarionEvents.com.

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