The EDF Renewables has purchased a 270-megawatt solar energy development project of the company Galehead Development based in Boston in the MISO Central region of the United States.
When the project will be completed, the solar energy project is going to serve the continuously increasing demand from the utilities of MISO for the low-cost energy resources along with the continuously growing commitments to the renewables by the corporations throughout the region, and this transaction has been marking the third renewable energy development asset sale between both the companies.
Galehead Development has delivered a total of 520-megawatt pipeline to the EDF Renewables spanning the PJM and MISO energy markets along with targeting the commercial operations, which are scheduled to begin between 2023 to 2024.
Each of the acquisition has been responsible for pairing the market strategies and greenfield development scope of Galehead Development with the capacity for long-term project ownership and power marketing capabilities of EDF Renewables. The company ‘Galehead Development’ has executed on the market strategies by siting the projects with the company’s proprietary LandCommand software, along with achieving and assembling the site control, and also conducting the surveys and feasibility studies along with securing the cost-effective interconnection positions.
Followed by the new acquisition of the 270-megawatt solar energy project, the EDF renewables is also going to manage all the remaining downstream development scope through all type of the commercial operations, and Matt Marino, chief executive of Galehead Development said, they are very happy to build on their track record of the successful project sales to the EDF Renewables.
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