ENGIE Expands Partnership with Ares Management with Addition of Nearly 1 GW Portfolio of Solar and Storage Assets in the U.S.
ENGIE North America has expanded its partnership with Ares Management Infrastructure Opportunities funds, adding a new 0.9 GW portfolio of renewable assets in the U.S. The portfolio includes three operational solar projects across ERCOT and MISO regions, plus one co-located battery storage project in ERCOT. ENGIE will maintain a controlling stake and continue managing these assets.
This expansion brings the total partnership investment to 3.7 GW of U.S. generation capacity. ENGIE currently operates over 11 GW of renewable production across the U.S. and Canada, with 51 GW globally. The company aims to reach 95 GW of renewables and storage by 2030.
The transaction aligns with ENGIE's strategy to recycle capital and expand renewable generation in North America, responding to increasing power demand while advancing their goal of achieving net-zero carbon by 2045.
ENGIE North America ha ampliato la sua partnership con Ares Management Infrastructure Opportunities funds, aggiungendo un nuovo portafoglio di asset rinnovabili da 0,9 GW negli Stati Uniti. Il portafoglio include tre progetti solari operativi nelle regioni ERCOT e MISO, oltre a un progetto di stoccaggio di batteria co-locato in ERCOT. ENGIE manterrà una partecipazione di controllo e continuerà a gestire questi asset.
Questa espansione porta l'investimento totale della partnership a 3,7 GW di capacità di generazione negli Stati Uniti. ENGIE attualmente gestisce oltre 11 GW di produzione rinnovabile negli Stati Uniti e in Canada, con 51 GW a livello globale. L'azienda mira a raggiungere 95 GW di rinnovabili e stoccaggio entro il 2030.
La transazione è in linea con la strategia di ENGIE di riciclare capitale e ampliare la generazione rinnovabile in Nord America, rispondendo all'aumento della domanda di energia e perseguendo il loro obiettivo di raggiungere zero emissioni di carbonio entro il 2045.
ENGIE North America ha ampliado su asociación con Ares Management Infrastructure Opportunities funds, añadiendo un nuevo portafolio de activos renovables de 0,9 GW en EE. UU. El portafolio incluye tres proyectos solares operativos en las regiones de ERCOT y MISO, además de un proyecto de almacenamiento de baterías co-localizado en ERCOT. ENGIE mantendrá una participación de control y continuará gestionando estos activos.
Esta expansión lleva la inversión total de la asociación a 3,7 GW de capacidad de generación en EE. UU. ENGIE actualmente opera más de 11 GW de producción renovable en EE. UU. y Canadá, con 51 GW a nivel global. La empresa tiene como objetivo alcanzar 95 GW de renovables y almacenamiento para 2030.
La transacción se alinea con la estrategia de ENGIE de reciclar capital y expandir la generación renovable en América del Norte, respondiendo a la creciente demanda de energía mientras avanza hacia su meta de alcanzar cero emisiones de carbono para 2045.
ENGIE 북미는 Ares Management Infrastructure Opportunities funds와의 파트너십을 확장하여 미국에서 0.9 GW의 새로운 재생 가능 자산 포트폴리오를 추가했습니다. 이 포트폴리오는 ERCOT 및 MISO 지역의 세 개의 운영 중인 태양광 프로젝트와 ERCOT에 위치한 하나의 배터리 저장 프로젝트를 포함합니다. ENGIE는 지배 지분을 유지하고 이러한 자산을 계속 관리할 것입니다.
이번 확장은 파트너십 총 투자액을 3.7 GW의 미국 발전 용량으로 끌어올립니다. ENGIE는 현재 미국과 캐나다에서 11 GW 이상의 재생 가능 생산을 운영하고 있으며, 전 세계적으로 51 GW를 보유하고 있습니다. 이 회사는 2030년까지 95 GW의 재생 가능 에너지와 저장 용량을 달성할 계획입니다.
이번 거래는 ENGIE의 자본 재활용 및 북미에서의 재생 가능 발전 확대 전략과 일치하며, 증가하는 전력 수요에 대응하고 2045년까지 탄소 중립 목표를 달성하기 위한 노력에 기여합니다.
ENGIE Amérique du Nord a élargi son partenariat avec Ares Management Infrastructure Opportunities funds, ajoutant un nouveau portefeuille d'actifs renouvelables de 0,9 GW aux États-Unis. Le portefeuille comprend trois projets solaires opérationnels dans les régions ERCOT et MISO, ainsi qu'un projet de stockage par batterie co-localisé dans ERCOT. ENGIE conservera une participation majoritaire et continuera à gérer ces actifs.
Cette expansion porte l'investissement total du partenariat à 3,7 GW de capacité de génération aux États-Unis. ENGIE exploite actuellement plus de 11 GW de production renouvelable aux États-Unis et au Canada, avec 51 GW au niveau mondial. L'entreprise vise à atteindre 95 GW d'énergies renouvelables et de stockage d'ici 2030.
La transaction s'inscrit dans la stratégie d'ENGIE de recycler le capital et d'élargir la production renouvelable en Amérique du Nord, répondant à la demande croissante d'électricité tout en poursuivant son objectif d'atteindre des émissions nettes nulles de carbone d'ici 2045.
ENGIE Nordamerika hat seine Partnerschaft mit Ares Management Infrastructure Opportunities funds erweitert und ein neues Portfolio von 0,9 GW an erneuerbaren Anlagen in den USA hinzugefügt. Das Portfolio umfasst drei betriebsbereite Solarprojekte in den Regionen ERCOT und MISO sowie ein ko-lokalisiertes Batteriespeicherprojekt in ERCOT. ENGIE wird eine kontrollierende Beteiligung behalten und diese Vermögenswerte weiterhin verwalten.
Diese Erweiterung bringt die Gesamtinvestition der Partnerschaft auf 3,7 GW an Erzeugungskapazität in den USA. ENGIE betreibt derzeit über 11 GW an erneuerbarer Produktion in den USA und Kanada, mit insgesamt 51 GW weltweit. Das Unternehmen strebt an, bis 2030 95 GW an erneuerbaren Energien und Speicher zu erreichen.
Die Transaktion entspricht der Strategie von ENGIE, Kapital zu recyceln und die erneuerbare Erzeugung in Nordamerika auszubauen, um auf die steigende Stromnachfrage zu reagieren und ihr Ziel zu verfolgen, bis 2045 netto null Kohlenstoffemissionen zu erreichen.
- Expansion of renewable portfolio by 0.9 GW through strategic partnership
- Maintains controlling stake in new assets, ensuring operational control
- Total partnership with Ares reaches 3.7 GW of U.S. generation capacity
- Strong presence with 11 GW renewable capacity in North America
- Capital recycling strategy enables continued expansion
- None.
Insights
ENGIE's expansion of its partnership with Ares Management is a strategic financial move that brings their joint investment to 3.7 GW of U.S. power generation assets. By adding 0.9 GW of solar and storage assets while maintaining controlling interest, ENGIE effectively executes a capital recycling strategy that strengthens its market position without sacrificing operational control.
This transaction demonstrates a scalable partnership model that allows ENGIE to optimize its capital structure while continuing its renewable expansion. The portfolio diversification across ERCOT (Texas) and MISO (Midwest) markets provides geographic balance in key U.S. electricity regions with strong demand growth. The inclusion of battery storage alongside solar assets is particularly valuable, as storage capabilities enhance grid reliability and potentially capture premium pricing during peak demand periods.
The deal advances ENGIE's progress toward its ambitious 95 GW global renewable target by 2030, up from the current 51 GW. This represents approximately 8% of ENGIE's North American renewable capacity (currently 11 GW). The continued partnership with a sophisticated infrastructure investor like Ares validates both the quality of ENGIE's asset portfolio and their operational expertise in the renewable sector.
This capital-efficient approach should accelerate ENGIE's renewable development pipeline while maintaining financial flexibility, positioning the company advantageously in the competitive U.S. energy transition landscape.
ENGIE's expanded partnership with Ares Management substantially strengthens its position in the U.S. renewable energy infrastructure market. The addition of three solar projects and one co-located battery storage project represents a technically sophisticated portfolio that addresses the evolving needs of the American grid system.
The strategic placement across ERCOT and MISO markets is particularly noteworthy. These regions face distinct operational challenges - ERCOT has experienced reliability concerns during extreme weather events while managing rapid renewable integration, and MISO is navigating significant transmission constraints amid growing renewable penetration. By maintaining operational control, ENGIE can optimize these assets' performance while leveraging Ares' financial partnership.
The inclusion of battery storage alongside solar generation in ERCOT is technically significant. Texas's isolated grid structure makes energy storage increasingly valuable for grid stabilization during demand spikes, potentially commanding premium pricing during scarcity events. This asset mix demonstrates ENGIE's technical sophistication in developing complementary generation resources.
This partnership expansion reinforces ENGIE's established infrastructure development model: build, partially divest while maintaining control, then redeploy capital into new development. This approach allows ENGIE to accelerate its renewable portfolio growth without proportionally increasing capital requirements, creating a more efficient expansion pathway toward their 95 GW global target by 2030.
Additional Portfolio Brings Relationship to 3.7 GW of Investment in
The overall 0.9 GW portfolio consists of three solar projects in operation across ERCOT and MISO, and one co-located battery storage project in ERCOT.
"The expansion of our relationship with Ares reflects the strength of ENGIE's portfolio of assets and our track record of delivering, operating and financing growth in the
ENGIE is a leader in the energy transition and currently has more than 11 GW of renewable production in operation or construction across the
This transaction supports ENGIE's strategy of continued investment in
"We are excited to be expanding our relationship with ENGIE through this latest transaction," said Steve Porto, Partner in Ares' Infrastructure Opportunities strategy. "We have seen first-hand the ENGIE team's strength as an operator, and the growth of this partnership reflects our shared confidence in the value proposition of this diversified portfolio and opportunities ahead in the infrastructure sector."
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About Ares Management
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of December 31, 2024, including the acquisition of GCP International which closed on March 1, 2025, Ares Management Corporation's global platform had over
Contacts:
ENGIE North America
Michael Clingan, External Relations
Michael.clingan@external.engie.com
832-745-6057
Ares Management
Jacob Silber | Brennan O'Toole
media@aresmgmt.com
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SOURCE Engie North America Inc.
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