Masdar in US
Masdar has picked up its second major exposure in US clean energy developments, the latest through a deal with EDF Renewables. Image Credit: Masdar

Abu Dhabi: Masdar confirmed its second strategic investment in the US, through a deal with EDF Renewables North America that will see it acquire 50 per cent in a 1.6 gigawatt (GW) clean-energy portfolio.

Under the terms, Masdar will have 50 per cent in three utility-scale wind farms in Nebraska and Texas, totaling 815 megawatts (MW), and five photovoltaic (PV) solar projects in California – two of which include battery energy storage systems – totalling 689 MW of solar and 75 MW of lithium-ion battery capacity.

The transaction is expected to close in the fourth quarter as it is subject to customary regulatory approvals.

The eight projects have led to more than 2,000 jobs in the US’s clean energy sector, and will displace more than 3 million metric tons of carbon dioxide annually.

“As the second largest renewable energy producer in the world in terms of installed power capacity, the US offers considerable scope for further growth and diversification of our renewable energy portfolio,” said Mohammad Jameel Al Ramahi, CEO of Masdar

Masdar made its entry into the US last year, by acquiring a 50 per cent interest in two wind farms in Texas and New Mexico.