EDF Renewable’s asset optimization team will continue the project’s long-term operations and maintenance. (Source: Shutterstock)
Power Sustainable Energy Infrastructure Inc. (PSEI) is investing in North American solar with the acquisition of a 50% stake in EDF Renewables North America’s Desert Quartzite Solar+Storage Project in Riverside County, California.
The investment is PSEI’s largest to date and was executed with Potentia Renewables Inc., PSEI’s integrated developer and asset manager.
Desert Quartzite is under construction for a capacity of 300 megawatts (MW) of solar generation and a battery energy storage system with a capacity of 150 MW every four hours. Construction is expected to be finished by the end of the year, and with the commencement of commercial operation the final phase of PSEI’s investment will close.
EDF Renewable’s asset optimization team will continue the project’s long-term operations and maintenance.
Clean Power Alliance has a 20-year power purchase agreement for the electricity generated at Desert Quartzite to service Los Angeles and Ventura counties.
Recommended Reading
Equinor to Acquire Sval Energi’s Stake in the Halten East Project
2024-11-07 - Equinor now holds 69.5% ownership in the development, which consists of six gas discoveries and three prospects.
Surge Closes on Divestment of Alberta Non-Core Gas Assets
2024-12-20 - Surge Energy said it has focused on developing its core Sparky and southeast Saskatchewan crude oil assets, leaving the Alberta non-core assets undercapitalized.
Venezuela Lost Citgo, But the Battle’s Not Over Yet
2024-10-04 - Amber Energy’s $7.3 billion purchase of Citgo fell well short of analyst’s valuations. PDVSA Ad Hoc expects to appeal the decision soon in its battle to protect its claim on Citgo.
TotalEnergies Pauses Business with Adani, Says it was Not Aware of US Investigation
2024-11-25 - French oil major TotalEnergies SE was not informed of a U.S. investigation into possible bribery and corruption at Adani Green Energy Ltd., it said on Nov. 25, adding it will stop financial contributions to its Adani Group investments following last week's indictment.
Now in 18 Permian Counties, What Will Diamondback Divest?
2024-10-15 - Post-acquisition of Endeavor Energy, Diamondback Energy has property in 18 West Texas counties. While analysts wait to hear what will be sold, Endeavor is up-shifting D&C efficiencies down to $625 per lateral foot.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.