Power Sustainable (PS), a renewables-focused subsidiary of Power Sustainable Energy Infrastructure Inc (PSEI), has acquired a 50% stake in EDF Renewables’ 300-MW Desert Quartzite solar-plus-storage project in Riverside County, California. The project, which includes a 150-MW four-hour battery energy storage system, is currently under construction and is set to be completed by the end of 2024. This acquisition is part of a strategic investment agreement between PSEI and EDF Ren America, with the final phase to close upon the project’s commercial operation. The acquisition has significant implications for the solar energy sector, including increased renewable capacity in California, enhancing state’s ambitious renewable energy goals and contributing to its commitment to achieving carbon neutrality by 2045. It could also foster advancements in renewable energy infrastructure and contribute to reduced greenhouse gas emissions and decreased reliance on fossil fuels.
Solar Dominates US Energy Capacity Growth
The Federal Energy Regulatory Commission (FERC) has published data showing that solar accounted for over 75% of US electrical generating
