PGGM extends stake in US renewables through EDF joint venture (IPE)

    The €215bn Dutch asset manager PGGM has acquired another stake in renewable energy in the US as part of its joint venture with EDF Renewables.

    It now owns 50% of a solar power plant in California as well as a wind farm in Iowa – both under construction – with a combined capacity of 332MW.

    As a consequence of the investment, the portfolio of PGGM-EDF Renewables will comprise 920MW in total by 2020.

    According to PGGM, including the new projects, its infrastructure fund had a direct stake in approximately 1GW of sustainable energy, equally divided across wind and solar, in Europe and the US.

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