ENGIE acquires 6 GW of solar and battery storage capacity projects from Belltown Power U.S. and significantly strengthens its renewable development pipeline

Rhea-AI Summary

ENGIE North America has acquired a portfolio of 6 GW of solar and battery storage projects from Belltown Power U.S. The transaction includes 33 projects, with approximately 2.7 GW of solar and 3.3 GW of battery storage, enhancing ENGIE's existing renewable capacity in North America, which stood at 3.9 GW as of June 30, 2022. This acquisition is expected to accelerate the company's role in the energy transition and improve grid reliability across various regions, including ERCOT and PJM.

Positive

• Acquisition of 6 GW of solar and battery storage projects enhances ENGIE's renewable energy portfolio.
• The transaction strengthens ENGIE's existing pipeline, now totaling 10.9 GW of renewable capacity.
• Provides opportunities for expansion in new U.S. markets, improving overall business footprint.

Negative

• None.

ENGIE adds 6 GW of solar and battery storage capacity to its development pipeline - Acquisition of 33 early to late-stage projects will accelerate renewables development across multiple states in North America.

HOUSTON, Oct. 27, 2022 /PRNewswire/ -- ENGIE North America (ENGIE) announced it has acquired a 6 GW portfolio of solar, paired and stand-alone battery storage development projects from Belltown Power U.S. The transaction includes 33 projects comprising some 2.7 GW of Solar with 0.7 GW of paired storage and 2.6 GW of stand-alone battery storage. The projects are located across ERCOT, PJM, MISO and WECC¹.

ENGIE already has a strong position in North America, with 3.9 GW of installed renewable capacity at 100% as of June 30, 2022. The projects are a strong addition to ENGIE's existing renewables and storage pipeline in the U.S.

"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. The 3.3 GW of battery storage projects will be a critical enabler of flexibility and supports the balance of the grid to improve its reliability and resilience," said Dave Carroll, Chief Renewables Officer and Head of ENGIE North America.

Hernan Farace, CEO of Belltown Power U.S., commented, "We are very proud of having completed this transaction with ENGIE, which marks another great milestone in the journey of Belltown as a greenfield developer. The ENGIE team is very knowledgeable and has the breadth and depth of expertise to bring these projects into operations. We believe our projects are in excellent hands and look forward to the ribbon cutting ceremonies at each of these sites."

Note 1: ERCOT: Electric Reliability Council of Texas; PJM: Pennsylvania New Jersey Maryland Interconnection LLC; MISO: Midcontinent Independent System Operator; WECC: Western Electricity Coordinating Council

About ENGIE North America

Based in Houston, Texas, ENGIE North America Inc. is a regional hub of ENGIE, a global leader in low-carbon energy and services. ENGIE (ENGI), is listed on the Paris and Brussels Stock Exchanges. Together with our 101,500 employees around the globe, our customers, partners and stakeholders, we are committed to accelerate the transition toward a carbon-neutral world, through reduced energy consumption and more environmentally friendly solutions. Inspired by our purpose ("raison d'être"), we reconcile economic performance with a positive impact on people and the planet, building on our key businesses (gas, renewable energy, services) to offer competitive solutions to our customers.  In North America, ENGIE helps our clients achieve their energy efficiency, reliability, and ultimately, their sustainability goals, as we work together to shape a sustainable future. We accomplish this through: energy efficiency projects, providing energy supply (including renewables and natural gas), and the development, construction and operation of renewable energy assets (wind, solar, storage and more).  For more information on ENGIE North America, please visit our LinkedIn page or Twitter feed, https://www.engie-na.com/ and https://www.engie.com.

About Belltown Power U.S.

Belltown Power specializes in greenfield development of solar PV and energy storage projects, starting with site identification and navigating interconnection, real estate, permitting, environmental, tax, and all other development items to bring these projects to fruition. The Belltown Power team's strong track record follows a thoughtful and disciplined approach to development, leveraging its excellent technical expertise and industry relationships to deliver quality projects from greenfield through to operations. For more information visit https://belltownpower.com.

Contacts:

ENGIE North America
Michael Clingan, Press Relations
Michael.clingan@external.engie.com

 

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SOURCE ENGIE North America

FAQ

What projects did ENGIE acquire from Belltown Power U.S.?

ENGIE acquired a portfolio that includes 33 solar and battery storage projects totaling 6 GW.

When was the acquisition of solar and battery projects by ENGIE announced?

The acquisition was announced on October 27, 2022.

How much renewable capacity does ENGIE have after the acquisition?

After the acquisition, ENGIE's renewable capacity in North America totals approximately 10.9 GW.

What impact will the acquisition have on ENGIE's operations?

The acquisition will accelerate ENGIE's role in the energy transition and improve grid reliability.

Which areas are covered by the acquired projects?

The projects are located across ERCOT, PJM, MISO, and WECC regions.