Plenitude, through its US subsidiary Eni New Energy US Inc., has signed an agreement with EDP Renewables North America LLC ('EDPR NA'), to purchase a 49% equity stake in a portfolio of 2 operational photovoltaic plants and an electricity storage facility in construction located in the state of California, United States.
The Sandrini 100 (100MWac / 141MWdc) and Sandrini 200 (200MWac / 266MWdc) solar farms share the same grid connection infrastructure with the Sandrini BESS storage facility (368MWh). The three plants have a total installed capacity of about 499MWdc, of which 245MWdc corresponding to Plenitude share.
Stefano Goberti, CEO of Plenitude, said: 'Through this transaction we position ourselves in the California market, one of the most relevant for the development of renewables, further diversifying Plenitude presence in the United States and confirming our commitment to invest in electric storage systems. Thanks to this acquisition we reach a total installed capacity in the country of about 1.7 GW'.
'Our valued partnership with Plenitude underscores EDPR NA’s commitment to bolstering energy infrastructure throughout North America through the development of additional solar and storage capacity in an effort to create a more reliable and resilient grid,' added Sandhya Ganapathy, CEO, EDP Renewables North America.
Closing of the transaction is subject to customary approvals required by law.
Plenitude, a company controlled by Eni, is present in more than 15 countries around the world with a business model that integrates the production of electricity from 4 GW of renewable capacity, the sale of energy and energy solutions to 10 million European customers, and an extensive network of nearly 22,000 charging points for electric vehicles. By 2027, the company has the objective to reach 8 GW of installed renewable capacity globally.
EDP Renewables North America LLC (EDPR NA) constructs and owns wind farms, solar parks, and energy storage systems for more than 11 GW and has developed projects for over 12 GW throughout North America. EDPR NA is headquartered in Houston, Texas, and has more than 1,000 employees.
EDP Renewables (Euronext: EDPR) is a global leader in renewable energy development with a presence in 28 regions in Europe, North America, South America, and Asia-Pacific, with headquarters in Madrid and leading regional offices in Houston, São Paulo, and Singapore.
Source: Plenitude
