Enter Solar, a national provider of distributed solar generation for commercial and industrial customers, will become a wholly-owned subsidiary of EDF Renewables, after the developer completed the acquisition of the remaining 50% interest it had of the company since 2018.
EDF Renewables announced back in September 24, 2018, that under a strategic partnership it was going to acquire 50% stake interest in Enter Solar, today, the remaining 50% was acquired by EDF, which will benefit both company’s portfolio and financials, the developer announced this Wednesday.
Now, the company will expand its distributed solutions, increase financial stability, and will expand its offerings to include energy storage and smart electric vehicle charging units. With more than 15 years providing behind the meter solar solutions for commercial and industrial customers, EDF will now expand into this market.
In 2020 alone, the company added new 59 megawatts of capacity to its portfolio; has consistently ranked among the top leaders of commercial and industrial customers market in the United States. Through this acquisition, it will benefit from EDF’s equipment, capital and additional offerings.
In this same sense, EDF Renewables will meet the “accelerating demand for distributed generation solar solutions from the corporate C&I market,” company’s statement reads.
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Enter Solar with a solid track record
About the process of acquisition, Peyton Boswell, Managing Director of Enter Solar, said. “We are excited to be wholly a part of EDF Renewables. The acquisition allows Enter Solar to fully leverage EDF Renewables’ unparalleled experience in grid-scale renewable energy.”
“Our solid track record in developing behind-the-meter solar photovoltaic projects will now become the preferred provider of distributed generation solar solutions to the corporate marketplace.”
On his side, Raphael Declercq, Enter Solar’s VP of Distributed Solutions and Strategy, concluded. “The initial investment in Enter Solar proved to be the absolute right partnership for synergy between EDFR’s strengths and Enter Solar’s expertise in the C&I market.”
“With skillful and talented employees at all levels, our company positions EDF Renewables Distributed Solutions Group for a promising and successful future.”
