EDF Renewables North America, a subsidiary of EDF Renewables, has announced the successful closure of financing for the Desert Quartzite solar plus storage project in California, US.
The project, co-owned with Power Sustainable Energy Infrastructure Inc, began supplying electricity in December 2024.
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The project’s long-term debt financing was provided by KfW IPEX-Bank, MUFG Bank, Export Development Canada, the Korea Development Bank and four other participating banks.
This financing is the first project leverage application in the US for EDF Renewables in more than ten years.
Located in Riverside County, California, the Desert Quartzite solar plus storage project has a total capacity of 375 megawatts defined conditions (MWdc) for solar generation, combined with a 150 megawatts alternating current (MWac)/four-hour battery energy storage system (BESS).
In August 2024, Power Sustainable Energy Infrastructure (PSEI), a branch of Power Sustainable, finalised the first phase of its strategic investment in the project.
The investment was carried out in partnership with Potentia Renewables, PSEI’s integrated developer and asset manager.
The electricity generated by the project is supplied to the Clean Power Alliance, serving 35 communities across Los Angeles and Ventura Counties, under a 20-year power purchase agreement (PPA) signed in September 2021.
EDF Renewables North America entered a 20-year PPA with Omaha Public Power District (OPPD) in September 2024.
This agreement involves the supply of clean energy from its 300MW Milligan 1 Wind project in Nebraska, which has been operational since 2021.
EDF Renewables North America’s portfolio currently comprises 23GW of completed projects and 16GW under service agreements.
