EDF Renewable Energy Acquires groSolar
US independent power producer EDF Renewable Energy has acquired the industry-leading commercial- and utility-scale solar PV firm groSolar.
On Monday, EDF Renewable Energy announced that it had acquired groSolar (Global Resource Options), “a privately owned company, which provides development and turnkey engineering, procurement, and construction (EPC) of solar photovoltaic (PV) projects for developers, financiers, utilities, corporate, government, and other institutional clients.” The acquisition, which as yet has failed to have a price attached to it, provides EDF with an independent business focused on distributed solar.
groSolar has installed more than 150 MW across more than 2,000 installations since its founding in 1998, while EDF has more than 8 GW of wind, solar, biomass, biogas, and storage projects in development, and another 4.1 GW in installed capacity.
“We are very pleased to welcome groSolar to the EDF RE family,” said Tristan Grimbert, CEO and President of EDF RE. “The company brings to EDF RE the ability to offer competitively priced distributed generation solar solutions to the growing Municipal, University, School and Hospital (MUSH), corporate, and utility customer base. The addition of an established and successful distributed generation business line contributes to our long-term growth plan to diversify the customer base and augments a comprehensive range of energy services that the EDF group offers to its customers worldwide.”
”groSolar benefits from the ability to leverage EDF RE’s deep technical resources and project development experience while remaining an independent subsidiary,” added Jamie Resor, CEO of groSolar. “We worked collaboratively during the due diligence process to ensure that our respective cultures and customer oriented focus would fully align. And today we look forward with confidence to accelerate our reach in the expanding distributed generation solar market as part of EDF RE.”
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I know the people at groSolar, exceptional company and culture.
Maybe commercial solar will finally take off in the USA. It’s institutionally much more complicated than either utility or residential, and often technically as well – shopping centre roofs are much more different from each other than house roofs. But the potential payoffs are large, as consumption is largely daytime, well matched to the output of pv panels, and big consumers get to avoid demand charges based on peak usage. Cracking this market takes patience, which this merger should have.
BTW, the commercial solar problem is not unique to the USA, unlike obstinately high residential installation costs. It also struggles in the UK and Australia.
Commercial solar prices fell quite a bit a couple years back. Some of the large corporations seem to be installing but utility is where most of the installation is taking place.
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