EDF Renewables acquires distributed solar power in China from Asia Clean Capital

EDF Renewables in China is acquiring a majority stake in a 77 MWp rooftop PV assets portfolio from Asia Clean Capital (ACC), one of China’s biggest firms in this segment, for local and multinational companies and industries.

For the past year, ACC and EDF Renewables have been in partnership in the construction and operation of a shared B2B portfolio of roof-mounted distributed solar projects.

Commissioned over 2017 and 2018, the 17 rooftop solar facilities represent a total capacity of 77.1 MWp.

Each project, covered by a Power Purchase Agreement with major multinational companies, is located as close as possible to companies and factories who wish to produce and use their own renewable energy – including Danone, Coca Cola and Nestlé, as well as Chinese industrial Groups such as Wahaha and Wuhan Iron & Steel.

EDF Renewables has acquired a majority stake in this portfolio of rooftop PV projects through a joint venture in which the ACC Group, which developed and built the projects, retains a minority stake in the projects.

This acquisition takes EDF Renewables’ clean energy gross capacity (wind and solar) under construction or in operation in China to more than 413 MW, including nearly 100 MWp gross of rooftop solar capacity in operation under a partnership with ACC.

This transaction forms part of the EDF Group’s Cap 2030 strategy, which aims to double renewable capacity between 2015 and 2030 in France and globally, taking it to a net 50 GW.

The EDF Group has been working in China for more than 30 years across several sectors of the country’s energy market, including renewables, nuclear and services.