PS buys half of EDF Renewables’ 300-MW solar-storage project in California

A renewables-focused unit of alternative asset manager Power Sustainable (PS) has acquired from France-based EDF Renewables’ North American unit a 50% shareholding in a 300-MW solar-plus-storage project under construction in California.

The Desert Quartzite scheme is located in Riverside County and is expected to be completed by the end of 2024. The power generating capacity will be backed by a 150-MW four-hour battery energy storage system (BESS).

The solar farm has a 20-year power purchase agreement (PPA) in place with Clean Power Alliance.

The stake purchase marks the first phase of a strategic investment agreement between Power Sustainable Energy Infrastructure Inc (PSEI) and EDF Renewables North America. The final phase will close upon the project’s completion and commercial operation.

The investment was executed together with Potentia Renewables Inc, PSEI’s integrated developer and operator. It is PSEI’s largest bet to date.

Choose your newsletter by Renewables Now. Join for free!