EDF Renewables North America Expands Partnership with Enbridge

Rhea-AI Summary

Enbridge Inc. (ENB) partners with EDF Renewables North America for a 50 percent stake in the Fox Squirrel Solar Project, a ground-mounted solar facility in Ohio. The project, with a capacity of 749 MWdc/577 MWac, is set to become Ohio's largest solar complex. Enbridge's investment demonstrates commitment to renewable energy growth in North America, with the first phase to be operational by year-end and the remainder by the end of 2024. EDF Renewables touts the project as key to decarbonizing the PJM grid and supporting the transition to solar energy.

Positive

• Enbridge's investment in renewable energy showcases a commitment to sustainable growth and diversification. The partnership with EDF Renewables, a leading provider of integrated energy solutions, demonstrates a strategic move to support the transition to solar energy and decarbonize the PJM grid.

Negative

• None.

Enbridge makes investment in the Fox Squirrel Solar Project

SAN DIEGO--(BUSINESS WIRE)-- EDF Renewables North America and Enbridge Inc. (TSX: ENB) (NYSE: ENB) have announced an agreement that will see Enbridge become a 50 percent partner in the Fox Squirrel Solar Project. The project, located in Madison County, Ohio, is set to become EDF Renewables' largest onshore renewable project and Ohio's largest solar complex.

The Fox Squirrel Solar is a ground-mounted solar facility with a capacity of 749 MWdc/577 MWac. It is currently being constructed in three phases, with the initial phase set to be operational by year-end and the remainder by the end of 2024. The project has secured 20-year fixed-price power purchase agreements with a strong investment grade counterparty.

Enbridge's investment in the first phase of the project demonstrates their commitment to renewable energy growth in North America; final investment decision on the following phases throughout 2024 are subject to certain conditions being met.

"EDF Renewables is thrilled to continue our successful partnership with Enbridge through the Fox Squirrel Solar Project, our first utility-scale solar facility in Ohio,” said Ryan Pfaff, Executive Vice President, Grid-Scale Power for EDF Renewables. “Solar energy plays a key role in decarbonizing the PJM grid in a safe, reliable, and affordable manner. We look forward to completing Fox Squirrel Solar and supporting this transition.”

EDF Renewables, with its extensive experience and track record of success, is dedicated to providing solutions that help customers achieve their carbon-reduction goals. With 35 years of experience and 16 gigawatts of wind, solar, and storage projects developed, EDF Renewables is a leading provider of integrated energy solutions, ranging from grid-scale power to electric vehicle charging.

About EDF Renewables North America

EDF Renewables North America is a market leading independent power producer and service provider with 35 years of expertise in renewable energy. The Company delivers grid-scale power: wind (onshore and offshore), solar photovoltaic, and storage projects; distribution-scale power: solar and storage; asset optimization: technical, operational, and commercial expertise to maximize performance of generating projects, and onsite solutions, through the Company’s PowerFlex subsidiary, offering a full suite of onsite energy solutions for commercial and industrial customers: solar, storage, EV charging, energy management systems, and microgrids. EDF Renewables’ North American portfolio consists of 16 GW of developed projects and 13 GW under service contracts. In Canada, the Company has 1.9 GW of wind and solar power facilities in service or under construction and 4.2 GW under development. EDF Renewables North America is a subsidiary of EDF Renewables, the dedicated renewable energy affiliate of the EDF Group. For more information visit: www.edf-re.com. Connect with us on LinkedIn, Facebook and Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231115329145/en/

Media Contact:

Sandi Briner

VP, Corporate Communications

EDF Renewables North America

mediarelations@edf-re.com

Source: EDF Renewables North America

FAQ

What is the capacity of the Fox Squirrel Solar Project?

The project has a capacity of 749 MWdc/577 MWac, making it Ohio's largest solar complex.

When is the first phase of the project set to be operational?

The initial phase is set to be operational by year-end, with the remainder expected to be operational by the end of 2024.

Who is Enbridge partnering with for the Fox Squirrel Solar Project?

Enbridge is partnering with EDF Renewables North America for a 50 percent stake in the project.

What is EDF Renewables' goal for the project?

EDF Renewables aims to decarbonize the PJM grid and support the transition to solar energy through the Fox Squirrel Solar Project.