EDF Renewable Energy (EDF RE) has completely acquired OwnEnergy Inc., a developer of mid-sized wind projects. The transaction encompasses 100% of OwnEnergy’s assets, including its pipeline of future wind projects. Marathon Capital served as exclusive financial advisor to OwnEnergy.
OwnEnergy was founded in 2007. The company created a platform for local clean energy entrepreneurs to lead the development of renewable energy projects, and its 20-person team has successfully developed eight wind projects either in a construction or operating phase. These projects represent 329MW of developed wind energy assets sold to third parties. In addition, the company has built a robust portfolio of development assets through their innovative local partner business model.
“We worked collaboratively with OwnEnergy team during the due diligence to ensure that our respective cultures and customer oriented focus would fully align. Today, I am happy to make this announcement with the utmost confidence in our future success,” stated Tristan Grimbert, CEO and President of EDF RE. “OwnEnergy’s business model taps into the entrepreneurial spirit of farmers, ranchers and other community leaders across the country with a focus on the mid-size market of off-takers. Their community partner approach will continue under the EDF Renewable Energy brand.”
EDF Renewable Energy is one of the largest renewable energy developers in North America with 6 GW of wind, solar, biomass, biogas, and storage projects developed and an installed capacity of 3.2 GW.