EDF Renewable Services (EDF RS), the leading provider of renewable operations and maintenance (O&M) services in North America, announces that they recently assumed Asset Management and O&M services on a portfolio of solar photovoltaic (PV) projects totaling 200 megawatts (MWp).
The portfolio comprises 206 solar projects spanning across 13 states from New Jersey to Hawaii with an equally diverse range in capacity from 36 kilowatt up to 25 megawatt.The Asset Management and O&M services continuity agreements were negotiated and implemented by the project Lessor to ensure seamless operations in the event of an abrupt disruption in the performance of the incumbent service providers. EDF RS is working hand-in-hand with the incumbent service providers and the project owners during the transition period to ensure uninterrupted management and service. At the conclusion of the transition period, EDF RS will be performing full scope O&M and Asset Management services under long-term agreements.
Larry Barr, Executive Vice President of EDF RS, commented, “This transaction demonstrates EDF RS’s ability to provide security and continuity to renewable energy asset owners in a time of extreme financial unrest within the industry. We are using our well-established and industry leading O&M and Asset Management resources to provide the owners of these projects with a thoughtful transition away from their prior service providers to a long-term partnership driven to maximize profitability.”
This solar portfolio transaction solidifies EDF RS’s presence in the distributed generation market. In April, 2016, groSolar, which provides PV development and turnkey engineering, procurement, and construction (EPC), joined the EDF RE group as a wholly owned subsidiary. The business unit brings a precise focus on distributed generation solar business.