North American EDF Renewable Energy announced Tuesday that it has completed the acquisition of OwnEnergy.
EDF Renewable Energy is one of the largest developers of renewable energy in North America, currently with 6 GW worth of wind, solar, biomass, biogas, and solar storage projects developed and a total installed capacity of 3.2 GW. OwnEnergy is a developer of mid-sized wind projects in the US, and has developed or is developing a total of eight wind projects, representing 329 MW.
The acquisition includes 100% of OwnEnergy assets, including its pipeline of future projects, as well as the 20-person team.
“We are thrilled to welcome the OwnEnergy team to the EDF Renewable Energy family,” said Tristan Grimbert, CEO and President of EDF Renewable Energy. “We worked collaboratively during the due diligence to ensure that our respective cultures and customer oriented focus would fully align. Today, I am happy to make this announcement with the utmost confidence in our future success.”
“OwnEnergy’s business model taps into the entrepreneurial spirit of farmers, ranchers and other community leaders across the country with a focus on the mid-size market of off-takers. Their community partner approach will continue under the EDF Renewable Energy brand.”
“Joining an entrepreneurial powerhouse like EDF Renewable Energy is a perfect fit for us,” added Jacob Susman, CEO of OwnEnergy.
“They are acquiring us for the same reason that brand name corporations are buying our clean power – we are a successful entrepreneurial company that puts the community first. Our management team was able to scale the business in the face of a tough economy and an unstable policy environment. We are proud of the business OwnEnergy has built and look forward to developing more community-centric wind farms alongside our new EDF RE colleagues.”
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