SAN DIEGO–(BUSINESS WIRE)–EDF Renewables announced today the signing of Purchase and Sale Agreements (PSA) by which PGGM Infrastructure Fund will acquire a 50% ownership interest in the following projects: Red Pine Wind, Rock Falls Wind, Switch Station 1 Solar and Switch Station 2 Solar. Total capacity of the portfolio of projects is 588 megawatts (MW). Completion of the transaction is subject to regulatory approval and customary conditions precedent.
EDF Renewables will remain involved in the projects as a co-owner providing management services and provider of operations and maintenance services.
Raphael Declercq, executive vice president of strategy for EDF Renewables commented, “This portfolio of wind and solar projects provides an attractive investment opportunity in the US renewable energy sector, well suited for a large pension fund. We are pleased to forge a new business relationship with PGGM and expect to follow with another transaction. We are confident that our expertise as a developer and operator complements PGGM’s renewable energy investment strategy.”
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