Parties close transaction for 20 MWac distributed solar portfolio.
Chicago, Illinois, June 10, 2024 (GLOBE NEWSWIRE) — EDPR NA Distributed Generation LLC (EDPR NA DG) announced today the acquisition from Renewable Properties, LLC of a portfolio of four Illinois Community Solar projects under development, growing the company’s development pipeline in Illinois and its mission to provide communities throughout the state with clean, reliable, and sustainable energy.
The 20 MWac portfolio is expected to generate an estimated 42 GWh of solar energy annually, the equivalent of more than 5,000 Illinois homes. These projects add to an extensive portfolio of solar energy assets being developed in Illinois, which will contribute to the continued growth of EDPR NA DG’s current 310 MWp of overall operational capacity across 538 active sites.
EDPR NA DG is the distributed generation arm of EDP Renewables North America LLC (EDPR NA), a top five renewable energy owner and operator in North America. Renewable Properties is a preeminent community solar developer based in San Francisco that develops, owns, and operates DG solar projects in the U.S. Renewable Properties has over 1 GW of solar, energy storage, and EV infrastructure under development across 15 states and has over 155 MW under construction or in operation.
“EDPR NA DG is proud to support Illinois’ commitment to clean energy and is grateful to partner with Renewable Properties to contribute to the state’s renewable energy goals,” said Joao Barreto, Chief Executive Officer, EDPR NA Distributed Generation. “Community solar installations bring energy independence and economic empowerment to towns across the country, and this portfolio will help us further support Illinoisans in their transition to a clean energy economy.”
“This portfolio of projects represents some of our first projects in Illinois and is just the beginning of our efforts to bring clean, reliable community solar to the State,” said Aaron Halimi, Founder and President of Renewable Properties. “Our mission is to drive energy forward for local communities, so we’re pleased that EDPR NA’s experienced distributed generation team has acquired this Illinois portfolio and will continue to generate local solar power for Illinois and its residents in the coming years.”
Illinois is the fourth-largest U.S. state for adopting community solar solutions with a target goal to generate 40% of its energy from renewables by 2030, and 50% by 2040. The Illinois community solar marketplace greatly expanded following the passage of the 2021 Climate and Equitable Jobs Act. In addition to EDPR NA DG’s portfolio of distributed generation solar arrays in the state, EDPR NA has over 1.4 GW of operational utility-scale solar assets and more than 8 GW of operational wind assets.
In a move to support workforce development and educational training opportunities, EDPR NA unveiled its Bloomington, IL Technician Training Facility in August of 2023. The facility trains an average of 100 solar and wind technicians annually who are dispatched across EDPR NA & EDPR NA DG’s operational assets spanning Illinois and the US.
KeyBanc acted as an advisor on the acquisition on behalf of Renewable Properties.
Multimedia Assets
- About EDPR NA Distributed Generation: Fact Sheet
- Economic Benefits of Solar: Fact Sheet
- Illinois Renewable Energy Benefits | Local Experiences: Video
- Solar Power in North America: Video
- EDPR NA DG Community Solar: Fact Sheet
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About EDPR NA Distributed Generation
At EDPR NA Distributed Generation (EDPR NA DG), accelerating the adoption and success of distributed generation is at the core of our mission. EDPR NA DG provides cutting-edge innovative renewable energy services to the entire North American region. Built on long-standing relationships with developers, power generators, corporate purchasers, municipalities, and local communities, EDPR NA DG delivers a full suite of offerings ranging from financing and development to construction and operation of energy and storage assets poised to scale.
For more information, visit www.edprnadg.com and follow us on LinkedIn.
About EDP Renewables North America
EDP Renewables North America LLC (EDPR NA), its affiliates, and its subsidiaries develop, construct, own, and operate wind farms, solar parks, and energy storage systems throughout North America. Headquartered in Houston, Texas, with 61 wind farms, 15 solar parks, and eight regional offices across North America, EDPR NA has developed more than 10,600 megawatts (MW) and operates more than 9,600 MW of onshore utility-scale renewable energy projects. With more than 1,000 employees, EDPR NA’s highly qualified team has a proven capacity to execute projects across the continent.
For more information, visit www.edpr.com/north-america and follow us on LinkedIn.
About Renewable Properties
Founded in 2017, Renewable Properties specializes in developing and investing in small-scale utility, community solar, energy storage, and EV infrastructure projects throughout the U.S. Led by experienced renewable energy professionals with development and investment experience, Renewable Properties is active in 15 states and has over 1 GW of solar, energy storage and EV infrastructure under development with over 155 MW under construction or in operation. Renewable Properties works closely with communities, developers, landowners, utilities, and financial institutions looking to invest in solar energy systems. For more information about Renewable Properties, visit www.renewprop.com and follow us on LinkedIn.
CONTACT: Tom Weirich EDP Renewables North America +1 281.825.2771 thomas.weirich@edp.com Tor Valenza Renewable Properties +1 415.275.0967 media@renewprop.com
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