Power Sustainable Energy Infrastructure (PSEI), a division of Power Sustainable, has completed phase one of its strategic investment in the Desert Quartzite Solar+Storage Project in Riverside County, California.
The move grants PSEI a 50% ownership stake in the project, which is currently under construction.
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PSEI managing partner Pierre-Olivier Perras stated: “We are thrilled to be expanding our presence in the California utility-scale market
“The swift and collaborative process was a testament to our mutual commitment to making this partnership a success. It became evident during our due diligence that the EDF Renewables team is top-notch, and we greatly value the professionalism and expertise each department demonstrated.”
The initiative is a collaboration with Potentia Renewables, PSEI’s integrated developer and operator, and expands PSEI’s presence within the California utility-scale market.
The Desert Quartzite Solar+Storage Project is set to deliver 300MW of solar power with a 150MW/4-hour battery energy storage system (BESS).
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By GlobalDataThe generated electricity will be supplied to the Clean Power Alliance under a 20-year power purchase agreement.
Clean Power Alliance serves 35 communities across Los Angeles and Ventura Counties.
The project’s completion and the final phase of the investment are anticipated to coincide with the commencement of commercial operations.
With construction expected to be finalised by the end of 2024, the Desert Quartzite project represents PSEI’s largest investment to date.
EDF Renewables’ asset optimisation team will be responsible for long-term operations and maintenance, ensuring the project’s efficiency and reliability.
EDF Renewables divestiture and portfolio strategy vice-president Hamed Baatout stated: “We are very pleased to announce our first transaction with Power Sustainable Energy Infrastructure.
“It’s wonderful to work with a partner who shares the same vision as us: to decarbonise energy and promote sustainable practices. We are excited to see what we can accomplish together.”
