EDF Renewable Energy Acquires groSolar

renewable energy

The acquisition brings to EDF RE an autonomous business unit with a precise focus on distributed generation solar business to meet the growing demands of corporate customers seeking cost-effective renewable energy sources.

EDF Renewable Energy (EDF RE) on April 26 announced the acquisition of Global Resource Options, Inc. (dba: groSolar), a privately owned company, which provides development and turnkey engineering, procurement, and construction (EPC) of solar photovoltaic (PV) projects for developers, financiers, utilities, corporate, government, and other institutional clients. The acquisition brings to EDF RE an autonomous business unit with a precise focus on distributed generation solar business to meet the growing demands of corporate customers seeking cost-effective renewable energy sources. Closing is subject to customary conditions precedent.

Since its founding in 1998, groSolar has designed, built, procured equipment and installed more than 150 megawatts (MW) (2,000 installations) of solar power PV systems across the U.S. All with one goal in mind — to provide customers with the most competitively priced, highest quality, on-time solar system to meet or surpass customer needs. The company’s strength lies in their commitment to work in partnership with clients and local stakeholders, managing every step of the process in order to simplify solar development.

EDF Group, EDF RE works closely with EDF Energy Services and DK Energy. Through these affiliate companies, EDF RE is able to facilitate product offerings that form a complete suite of services including energy supply, hedging strategies and risk management products along with options for demand response and on-site generation management.

Marathon Capital served as exclusive financial advisor to groSolar.

 

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