Power Sustainable Energy Infrastructure (PSEI) and EDF Renewables North America have closed Phase 1 of a strategic investment whereby PSEI acquired a 50% stake in the Desert Quartzite Solar+Storage Project.
This investment was executed with Potentia Renewables, PSEI’s integrated developer and operator. The final phase of the investment is expected to close upon the project’s completion and commercial operation.
Desert Quartzite, located in Riverside County, Calif., is currently under construction and is slated to have a 300 MW capacity for solar, combined with a 150 MW, four-hour BESS.
Electricity generated will be delivered to Clean Power Alliance, the Community Choice Aggregator serving 35 communities in Los Angeles and Ventura Counties, under a 20-year PPA. Construction is expected to be complete by year-end, with long-term operations and maintenance performed by EDF Renewables’ Asset Optimization.
“We are thrilled to be expanding our presence in the California utility-scale market,” says Pierre-Olivier Perras, managing partner at Power Sustainable Energy Infrastructure.
“The swift and collaborative process was a testament to our mutual commitment to making this partnership a success. It became evident during our due diligence that the EDF Renewables team is top-notch, and we greatly value the professionalism and expertise each department demonstrated.”
This investment is PSEI’s largest to date.
