EDF has mandated Nomura Greentech to explore a sale of a stake in its California-based US renewables arm, sources familiar with the situation told this news service.

The sale of part or all of EDF power solutions North America is likely to launch after Labor Day, one of the sources said.

Last month, a newswire reported that EDF is exploring a potential sale of 50% of the company, citing sources. The transaction could be valued at around EUR 2bn (USD 2.34bn), the newswire stated.

Nomura Greentech declined to comment. EDF power solutions did not immediately respond to a request for comment.

EDF power solutions was established in May through the merger of EDF Renewables North America and EDF International Division Americas. The company is active in the US, Canada, and Mexico, with a portfolio of 23 GW of developed projects and 16 GW under service contracts.