Commercial, Industrial, Solar  -  April 28, 2016

EDF Renewable Energy, looking to expand offerings to corporate buyers, strikes deal for groSolar

As corporate demand for cost-effective renewable energy continues to rise, EDF Renewable Energy announced plans to acquire groSolar, a private company that offers engineering, procurement and construction of large commercial and utility-scale solar PV projects. 

EDF said the deal, terms of which were not disclosed, will allow it to expand its focus on distributed generation solar to meet growing demand from corporate customers. In an April 25 news release, the company said groSolar has designed, built, procured equipment and installed more than 150 MW, via 2,000 installations, of solar PV systems across the U.S.

"We are very pleased to welcome groSolar to the EDF RE family. 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,” EDF Renewable Energy President and CEO Tristan Grimbert, said in the release. "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."

Marathon Capital served as exclusive financial advisor to groSolar. EDF Renewable Energy is a unit of EDF Group. 

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