Masdar has announced its second strategic investment in the USA in a deal with EDF Renewables North America that will see it acquire a 50% stake in a 1.6GW clean-energy portfolio.
Under the terms of the agreement, Masdar has acquired a 50 percent interest in three utility-scale wind farms in Nebraska and Texas totalling 815MW, and five photovoltaic (PV) solar projects in California – two of which include battery energy storage systems – totalling 689MW of solar and 75MW of lithium-ion battery energy storage.
The 243MW Coyote wind project is located in Scurry County, Texas; the 273MW Las Majadas wind project is in Willacy County, Texas; and the 300MW Milligan 1 wind project is in Saline County, Nebraska. All three wind projects are currently under construction and expected to begin commercial operations in the fourth quarter of 2020. Power from the diversified portfolio projects will be sold under long-term contracts to a variety of offtakers. The transaction is expected to close in the fourth quarter of 2020 as it is subject to customary regulatory approvals.