EDF Renewable Energy has acquired the US-based solar developer and installer Global Research Options (groSolar).
The companies did not disclose the value of the transaction, which is anticipated to be completed in the coming weeks. The deal is subject to customary conditions precedent.
groSolar, which was established in 1998, has designed, built and delivered 150MW of solar photovoltaic (PV) systems throughout the US.
The company will remain as an independent subsidiary and use EDF RE’s technical resources and project development experience.
Marathon Capital served as exclusive financial advisor to groSolar.
EDF RE CEO and president Tristan Grimbert said: "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.
"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."
EDF Renewable Energy has developed 8GW of renewable power generation projects so far. It presently owns 4.1GW of installed power and operates nearly 10GW of capacity.