Solar developer EDF Renewables North America (EDF) announced yesterday that it has acquired a 50% stake in commercial solar installer EnterSolar.
The acquisition will expand EDF’s presence in the commercial and industrial sector, as well as giving the company an increased presence in the New York solar market, an area where EnterSolar is strong. As part of the terms of the deal, EDF will provide EnterSolar with growth capital and project financing capabilities. Both companies have emphasized the opportunities present in the deal, citing the ever-growing demand for distributed generation projects among both commercial and industrial customers.
EDF specifically referenced EnterSolar’s 12-year track record in developing behind-the-meter solar projects for various clients as key. The company has said that by leveraging this track record with its own experience in solar+storage, as well as international development, the two will be able to provide “the most comprehensive array of behind-the-meter services.”
“We are delighted to announce this partnership with EDF Renewables, which, in conjunction with a strategic investment, provides EnterSolar with enhanced growth opportunities and the ability to further advance our goal of becoming the preferred provider of distributed generation solar solutions to the corporate marketplace,” said EnterSolar president Paul Ahern.
“We are impressed with the quality of the EnterSolar team and the striking natural fit between our offerings,” declared executive vice president of EDF Renewables, Raphael Declercq.
“EnterSolar has a remarkable customer satisfaction track record with C&I customers, while EDF Renewables Distributed Solutions brings strength and experience specific to ground-mount solar projects up to 30 MWp alongside behind-the-meter battery storage for the C&I sector. This new partnership will benefit from complementary synergies. The partnership now provides our customers with a wider choice of comprehensive distributed energy solutions.”
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