Engie expands US portfolio with 6GW renewable acquisition
Engie North America has acquired a 6GW portfolio of solar and battery storage projects in the US.
The French energy company purchased the development portfolio from renewable developer Belltown Power.
The portfolio comprises 33 projects including 2.7GW of solar projects fitted with 0.7GW of energy storage and 2.6GW of stand-alone battery storage. The assets are spread across the ERCOT, PJM, MISO and WECC markets.
"These projects are a tremendous addition to our existing renewables pipeline and will help to further accelerate Engie's role in the energy transition. The mix of solar, paired and stand-alone storage across a wide set of geographies both complements our existing portfolio as well as provides opportunities for expansion into new areas in the United States," said Dave Carroll, chief renewables officer and head of Engie North America.
Norton Rose Fulbright acted as legal adviser, and Scotiabank as financial adviser to Belltown on the transaction.
Stoel Rives acted as legal adviser to Engie.
In North America, Engie operates 3.9GW of installed capacity from renewable assets. Last month, Engie secured several offtakers for wind (PFR, 9/23) and solar projects (PFR, 9/20) the company is developing in the US.