Masdar expands presence in US with completion of acquisition of Big Beau project stake

Masdar expands presence in US with completion of acquisition of Big Beau project stake

ABU DHABI, 12th April, 2023 (WAM) -- Masdar has further expanded its presence in the US’ renewables market after closing the acquisition of a 50 percent stake in a combined solar and battery storage project from EDF Renewables North America.

The Big Beau project, located in California, comprises a 128-megawatt (MWac) photovoltaic (PV) solar plant and a 40 MW/160 MWh battery energy storage system. It is one of eight projects that Masdar and EDF Renewables have agreed to jointly partner in, with a combined capacity of 1.6 gigawatts (GW).

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, COP28 President-Designate and Chairman of Masdar, said, “Big Beau and the other projects that we are operating with EDF Renewables are already making an active contribution to US clean energy targets, highlighting the strength of the UAE-US relationship that the recent PACE announcement seeks to build on.

“If we are to keep the objective of limiting global warming to 1.5 degrees alive, we need to see countries coming together in concerted action – one of the key areas of focus for the upcoming COP28 in the UAE. Partnerships between companies like Masdar and EDF Renewables are also vital in ensuring we hold