EDP Renewables (EDPR) has acquired an 85% stake in C2 Omega, the distributed solar platform of renewables investor C2 Energy Capital.
The investment, which corresponds to an enterprise value of approximately US$119 million, sees EDP Renewables North America take a majority stake in a US distributed solar portfolio that includes 89MW of operating and imminent completion capacity and a near-term pipeline of around 120MW, spanning nearly 200 sites across 16 states.
EDPR, which is majority-owned by Portuguese utility EDP, said the transaction will see it operate “one of the largest commercial and industrial distributed generation portfolios in the US”, enabling it to offer its customers new solutions to meet their energy needs.
