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Surging Demand for Power Generation

The United States is experiencing an unprecedented surge in power demand as data center, AI and crypto technologies are expanding. The need for reliable and sustainable energy sources has become more pressing as these facilities require significant amounts of energy at all times. With AI driving innovation and increased energy consumption, it is imperative that the nation continues to invest in clean energy solutions to ensure reliability and to meet the unprecedented growing demand. The result of this investment is jobs across the chain for the industry, economic development in the communities we serve, and much needed upgrades to our infrastructure.

The Growth of Clean Energy

Driven by the near-term demand for inexpensive and available generation sources, clean energy is growing in the United States. Renewables now account for nearly 25% of the energy mix in the United States, a figure that continues to rise as investments pour into the sector. The pace of renewable capacity installations is forecasted to double between 2024 and 2030. 1

Solar projects in the US hit record breaking years in 2023 and 2024 and accounted for 66% of all new generating capacity in 2024. 3

Globally, renewable electricity generation is forecast to climb to over 17 000 terawatt-hours (TWh) by 2030, likely accounting for half of the global energy generation. Investment in electric power surpassed other energy projects in 2019, and the gap continues to widen. 2

The competitive costs of renewable energy technologies, combined with the long-term savings on fuel and maintenance, make clean energy an economically viable and attractive option for meeting the near and long-term growing power demands. As technology continues to advance, the efficiency of these power sources will only improve, further driving down costs and making clean energy more accessible and immediately available at scale and across the country. The U.S. needs to take a strong “all of the above” approach to generation deployment of which renewables and clean power are positioned to meet this moment of need.

The Role of Power Purchase Agreements (PPAs)

Power Purchase Agreements (PPAs) are also playing a crucial role in the growth and stability of the renewable energy sector. These long-term contracts between energy producers and consumers guarantee that a predetermined amount of energy will be purchased at a fixed price. By providing financial certainty and stability, PPAs have encouraged investment in renewable energy projects and support their long-term viability.

PPAs mitigate the financial risks associated with renewable energy projects by ensuring a stable revenue stream for energy producers. This predictability attracts investors and lenders, who are more likely to fund projects with guaranteed returns. Consequently, PPAs drive the development of new renewable energy facilities, contributing to the overall expansion of the sector.

Supporting Demand
On the buyers’ side, PPAs offer businesses and organizations a reliable and cost-effective source of renewable energy. By locking in energy prices for the duration of the contract, buyers can hedge against future price fluctuations and reduce their exposure to volatile energy markets while also contributing to their sustainability or clean energy commitments. This investment is particularly valuable for large energy buyers, such as data centers and industrial facilities.

PPAs also help facilitate the integration of renewable energy into the power grid. By providing a guaranteed market for renewable energy, PPAs encourage the development of infrastructure needed to support renewable energy generation. This includes investments in grid enhancements, energy storage solutions, and smart grid technologies that improve the efficiency and reliability of energy distribution.

The Role of AI in Power Demand

Cloud computing and the rapid emergence of artificial intelligence (AI) has contributed to exponential growth and increasing power demand in the United States. AI technologies can require significant computational power, leading to higher energy consumption. Data centers, which are the backbone of AI operations, consume vast amounts of electricity to process and store data. As AI applications expand across industries such as healthcare, finance, and manufacturing, the demand for power will continue to grow. Each of the major players within the space, are driving towards gaining their own competitive advantage over one another in a race to deploy much needed DC (direct current) capacity, thus driving forecasted and confirmed load growth to unprecedented levels.

Optimizing Energy Use with AI
While AI contributes to the rising power demand, it also offers solutions for optimizing energy use. AI can be employed to enhance the efficiency of renewable energy systems, predict energy consumption patterns, and manage power distribution. By leveraging AI, the clean energy sector can maximize its potential and ensure that the power grid operates at optimal levels.

Diversifying the Energy Grid
Designing better and more efficient power sources is essential for diversifying the energy grid. A diversified grid reduces the risk of over-reliance on a single energy source and enhances the overall resilience of the power system. Clean energy provides a balanced mix of power that meets the varying demands and at a rapid pace in the very near-term. Integrating renewable energy into the existing power grid requires careful planning and coordination by key stakeholders.

Advances in energy storage technologies, such as batteries and pumped hydro storage, are critical for managing the intermittent nature of renewable energy sources. By storing excess energy during periods of low demand and releasing it during peak times, these technologies ensure a steady and reliable supply of power. These technological advancements improve the grid to be smarter and more diversified, so that it can meet the increasing load growth.

Collaboration to Meet Energy Demand

The successful deployment of clean energy projects requires collaboration among hundreds of stakeholders. Landowners, local government agencies and regulators, partner companies, technology suppliers, and the buyers, either utilities or corporate purchasers, must work together to achieve the growing demand for clean energy solutions. Policy incentives, technological advancements, and public awareness are essential components in driving towards a reliable and sustainable energy future. Education, outreach and community engagement programs help raise awareness about the vast number of benefits that these projects bring.

Local Impacts of Clean Energy Projects

Renewable energy projects have far-reaching economic impacts on communities, fostering local development and job creation. These projects stimulate the local economies by generating employment opportunities in construction, maintenance, and operations of renewable energy facilities. Additionally, they often require support services such as engineering, legal, and management roles, further diversifying the job market and resulting in significant direct, indirect and induced benefits, oftentimes in rural areas of the United States which often have less access to diversified jobs and industries of growth.

In rural areas, utility-scale renewable energy projects provide a stable source of income for farmers and landowners through leases and royalties for land use. The integration of renewable energy into local grids also leads to energy resilience, ensuring that communities have access to reliable and affordable power, which is crucial for economic stability and growth. Working with local communities is paramount to the success of a project as each community has unique needs and concerns for which these investments have proven impactful to provide updated school buildings or local services, ability to invest in teaching staff and curriculum, or even supporting local sports and activities for the next generation growing up in these communities.

The Path Forward

The demand for power generation in the United States presents both challenges and opportunities. We will need all available technologies to meet demand and achieve the energy transition. A balanced energy mix is essential to ensuring the flexibility and efficiency of the energy system. By embracing renewable, clean energy and leveraging the potential of AI, the nation can ensure a sustainable and resilient energy future.

As the demand for energy continues to rise, the importance of investing in and supporting renewable energy cannot be overstated. Together, we can build a future where clean energy powers our homes, businesses, and industries, ensuring a prosperous and sustainable tomorrow.

Sources:
1. Renewables 2024 – Analysis – IEA
2. Economic Growth Now Depends on Electricity, Not Oil – WSJ
3. Solar Market Insight Report 2024 Year in Review – SEIA
4. World Energy Outlook 2024 – Analysis – IEA
5. EnergyConnects.com
6. US National Power Demand Study – 2025
7. www.IEA.org
8. www.bcse.org
9. USSMI-2024 YIR-Executive Summary

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ENGIE Expands Partnership with Ares Management with Addition of Nearly 1 GW Portfolio of Solar and Storage Assets in the U.S.

Additional Portfolio Brings Relationship to 3.7 GW of Investment in U.S. Generation

HOUSTON – ENGIE North America (ENGIE) announced that it recently expanded its partnership with Ares Management Infrastructure Opportunities funds (Ares) via the addition of a new almost 1GW portfolio. ENGIE will retain a controlling share in the portfolio and will continue to operate and manage the assets.

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 U.S.,” said Dave Carroll, Chief Renewables Officer and SVP, ENGIE North America. “The addition of another almost 1 GW of generation and storage to our existing relationship reflects the commitment both ENGIE and Ares have to meeting growing demand for power in the U.S. and continuing to deploy clean energy.”

ENGIE is a leader in the energy transition and currently has more than 11 GW of renewable production in operation or construction across the U.S. and Canada. Globally, ENGIE has 51 GW of renewables and storage in operation, and targeting 95 GW by 2030.

This transaction supports ENGIE’s strategy of continued investment in North America by deepening its partnership with a leading infrastructure investor, recycling capital to facilitate continued expansion of renewable generation to meet strong demand for power in the U.S.

“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 ENGIE North America

Based in Houston, Texas, ENGIE North America Inc. is a regional hub of ENGIE, a major player in the energy transition, whose purpose is to accelerate the transition towards a carbon-neutral economy. With 98,000 employees in 30 countries, the Group covers the entire energy value chain, from production to infrastructures and sales. ENGIE combines complementary activities: renewable electricity and green gas production, flexibility assets (notably batteries), gas and electricity transmission and distribution networks, local energy infrastructures (heating and cooling networks) and the supply of energy to local authorities and businesses. Every year, ENGIE invests more than $10 billion to drive forward the energy transition and achieve its net zero carbon goal by 2045. ENGIE (ENGI), is listed on the Paris and Brussels Stock Exchanges.  For more information on ENGIE in North America, please visit our website at www.engie-na.com or our LinkedIn page.

 

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 $525 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.

 

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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2024 Full-year Results

Another year of strong operational and financial performance
Proposed dividend of €1.48 per share for 2024


Business highlights

  • Record level of activity in Renewables with 4.2GW added in 2024, bringing total capacity to 46GW1
  • Acceleration in battery storage with more than 5GW of capacity in operation or under construction at 31 December 2024
  • Expansion in power transmission with the award of close to 1,200km in Brazil and Peru
  • Continuous progress in our Net Zero 2045 trajectory with a 55% reduction in GHG emissions from energy production compared to 2017 to 48Mt in 2024.
  • Approval by the European Commission of the final agreement on Belgian nuclear

 

Financial performance

  • High end of the 2024 Guidance achieved with NRIgs2 of €5.5bn, an organic increase of 3.4%
  • EBIT excluding nuclear of €8.9bn, down 5.6% organically versus a high 2023 basis for comparison
  • Strong CFFO3 generation at €13.1bn
  • Maintaining a solid balance sheet with economic net debt to EBITDA ratio at 3.1x stable vs. end-2023
  • Net financial debt and economic net debt at €33.2bn and €47.9bn respectively
  • Proposed increased dividend of €1.48 for 2024, corresponding to a pay-out ratio of 65%


Read more >> 

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Utility-Scale Renewable Projects

The success of utility-scale renewable projects hinges on more than just energy production; it depends on the strength of relationships with local stakeholders and meaningful investment in the communities. This means that companies must not just earn but also maintain their social license to operate within a community. By adopting a long-term perspective, companies can safeguard their projects. That perspective will not only contribute to sustainable energy goals but also support local development and foster enduring community relationships.

Relationship building matters
As owners and operators of utility-scale renewables projects, we understand that we will be present in these communities for decades to come. With any power production facility, it is natural to think of the physical infrastructure, but we must be mindful that there are people behind every one of our projects. As such, we need to engage with a wide range of community members: from local business owners, landowners, elected officials, first responders, educators, and more.

When considering a location for a new utility-scale wind, solar or battery project, we invest an appreciable amount of time in research to understand the needs of the community. Our engagement approach focuses on discerning the unique needs and aspirations of each community with the goal of understanding what is important within the community and building meaningful relationships around their needs. As we move forward with a project, the engagement process continues. We look to build ongoing relationships with the local schools as well as vocational and community colleges. We look for opportunities to celebrate certain project milestones with the community. For example, when we begin the operations phase of the project, we celebrate with a ribbon cutting ceremony to thank all the people who helped make the project possible. Additionally, we ensure that the project’s site manager is connected to the community as a means of encouraging ongoing communication.

Landowners are key to our projects
Landowners are foundational for the success of clean energy. We are proud to help them protect their family legacy by providing additional financial security through our projects. From the very beginning of a project, our team connects with landowners, gauging their interests and establishing long-term relationships. We ensure two-way communication with our landowners throughout the project lifecycle, keeping them informed and involved at each phase of our projects.

Open dialogue in community opposition
When undertaking any large-scale infrastructure project, it is unlikely to have unanimous agreement. Community concern is one of the leading causes that renewable energy projects are cancelled or significantly delayed, according to the Lawrence Berkeley National Laboratory. We believe that dialogue, even when difficult, is a critical part of the public engagement process. We are present in community meetings and take an active engagement approach to hear concerns and discuss options.

Supporting local economies
When becoming part of a community, supporting the local economies is important. Our projects create an economic ripple effect that goes well beyond our immediate operations. This includes construction, long-term job creation and the potential for local businesses to support the construction and ongoing operations. By infusing substantial tax revenues into local economies, we support new investments in local schools, roads, bridges, and other community services.

Safety is our number one priority
Safety is not only a requirement; it is a responsibility. Safety is something we take seriously and work to ensure safety measures are in place throughout our operations on a project. We engage and partner with local emergency services by providing them with additional training and insight to ensure they are prepared to respond to any situation at our sites. Operating in a safe and secure manner is our top priority to ensure the wellbeing of our neighbors, our employees, and the broader community.

Driving positive change — globally and locally
In the communities where we operate, it is essential to prioritize engagement, open dialogue, and long-term commitment. With these practices, not only are our projects advancing the future of clean energy, but they are also contributing to local economic and social development. As we continue to build, operate, and manage these projects, we remain steadfast in our commitment to be safe, responsible, and responsive owners and operators and create lasting positive impacts — locally and globally.

If you have any questions, concepts, or ideas, or would like to learn more about our work in community engagement, please feel free to reach out.

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ENGIE among the top ranking world companies!

ENGIE in the top 50! The Group lies in 46th place in the World’s Best Companies 2024 ranking published by Time magazine and Statista. What’s more, in France the Group is in the top 5.

Published by the American weekly magazine Time in partnership with Statista, a leading international provider of market and consumer data and rankings, the World’s Best Companies 2024 ranking evaluates the world’s 1,000 top performing companies according to three key criteria: employee satisfaction, revenue growth and sustainability performance (ESG criteria).

ENGIE stands out this year, ranking 46th worldwide, compared with 57th place last year. This improvement is largely due to the growth rate of the company, reflecting its ability to innovate and to adapt in a constantly changing sector.

In France, ENGIE has climbed to 5th place, in particular thanks to its Net Promoter Score (NPS), an indicator that measures overall positive customer and employee perception of the company.

This good score illustrates the Group’s commitment to providing a caring and inclusive working environment as well as its social model which reconciles economic performance with a positive impact on people and the planet.

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ENGIE enters a partnership with Ares Management for a 2.7 GW portfolio of Renewables and Storage Assets in the U.S.

HOUSTON, Sept. 12, 2024 (GLOBE NEWSWIRE) — ENGIE North America (ENGIE) announced that it recently closed a partnership with Ares Management Infrastructure Opportunities funds (Ares). This transaction represents the largest operating portfolio sell down for ENGIE in the U.S. and is one of the largest sales completed in the renewables sector based on total capacity. ENGIE will retain a controlling share in the portfolio and will continue to operate and manage the assets.

The overall 2.7 GW portfolio consists of 15 projects in operation across ERCOT, MISO, PJM and SPP, of which 53% is solar, 25% wind and 22% co-located battery storage capacity.

“We are delighted that ENGIE and Ares will be partners in such a large-scale renewables and co-located storage portfolio to further accelerate the energy transition towards a net zero future,” said Dave Carroll, Chief Renewables Officer, ENGIE North America. “The investment by Ares reflects ENGIE’s proven and recognized track record in developing, building, operating and financing renewable assets, both in North America and globally”.

ENGIE is a leader in the net zero energy transition and currently has more than 8 GW of renewable production in operation or construction across the U.S. and Canada. Globally, ENGIE has an aspiration to add 4 GW per year through 2025, with North America as a material contributor to that growth. This transaction supports ENGIE’s strategy in North America by simultaneously recycling capital and adding a leading infrastructure investor to ENGIE’s select pool of partners.

“We are thrilled to be partnering with ENGIE, a global leader in clean energy, on this highly contracted, attractive portfolio,” said Steve Porto, Partner in Ares’ Infrastructure Opportunities strategy. “This partnership provides diversification across proven technology and geography at scale alongside a strong operator. We look forward to continuing to provide the capital and experience needed to support the energy transition and build-out of climate infrastructure.”

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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 96,000 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 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 June 30, 2024, Ares Management Corporation’s global platform had over $447 billion of assets under management, with more than 2,950 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.

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Yucaipa Valley Water District Breaks Ground on a State-of-the-Art Resiliency and Clean Energy Project in Collaboration with ENGIE

Yucaipa, Calif. and Houston – The Yucaipa Valley Water District (YVWD) has initiated groundbreaking on its resiliency and clean energy water and wastewater project. The project includes the installation of 7 megawatts (MW) of solar power, a 3.3 MW/13 megawatt hour energy storage system, and 3.2 MW of natural gas generators coupled with microgrid controllers. The program is designed to advance clean energy adoption and the energy efficiency of water management at two key locations: the Yucaipa Valley Regional Water Filtration Facility and the Wochholz Regional Water Recycling Facility. A Southern California-based team from ENGIE North America (ENGIE) will manage the construction, ownership, and operation of the systems.

“This project marks a significant step forward in YVWD’s commitment to sustainability and energy resilience, ensuring reliable and efficient water services for the community,” said Joseph Zoba, General Manager from YVWD. “With the increase in power outages and PSPS across California, communities are facing enormous pressure to adapt and find new ways to ensure that critical operations are not impacted by grid outages. This project will enable YVWD to provide much-needed resiliency and reliability during power outages, ensuring our community remains safe and operational.”

The YVWD manages over 220 miles of drinking water pipelines and provides a combination of water, sewer, and recycled water connections to more than 22,000 ratepayers in the Inland Empire. The project will significantly improve the District’s capacity to serve residents, keep rates stable, and hedge against rising energy costs. It is designed to meet the District’s long-term resiliency goals and ensure safe, reliable power to key facilities during public safety power shutoff (PSPS) events. In Yucaipa Valley, a historically fire-prone region of Southern California, the community has faced increasing risks, managing fires nearly every two years.

“We are proud to work with Yucaipa Valley Water District to make the community’s critical infrastructure more resilient. By leveraging project savings, ENGIE is able to deliver critical facilities’ resiliency and reduce energy costs significantly,” said Courtney Jenkins, Vice President of Energy Solutions from ENGIE North America. “This initiative is projected to create $82 million in net savings after covering all costs over the 28-year agreement. The environmental impact of this project is substantial, with a carbon emissions reduction equivalent to removing 2,105 cars from the road annually.”
Following a project launch event at the Water Filtration Facility in May, YVWD celebrated the start of facility work at the Regional Water Recycling Facility during a groundbreaking ceremony this week.

About YVWD
Yucaipa Valley Water District is in San Bernardino County California. The District service area includes properties in Riverside County, San Bernardino County, Yucaipa and Calimesa. Yucaipa Valley Water District is in YVWD is a special district whose core mission is to provide reliable water and wastewater service to a 40 square-mile region with 223 miles of drinking water pipelines and 27 reservoirs with 34 million gallons of storage capacity.

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 97,000 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, 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.


Contacts:

YVWD
Joseph Zoba, General Manager
(909) 372-0041

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

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City of Oceanside and ENGIE Announce a 30-year Comprehensive Energy Project

Oceanside, California and Houston, May 01, 2024 (GLOBE NEWSWIRE) — The City of Oceanside, in collaboration with ENGIE North America (ENGIE), announced plans for a transformative energy initiative aimed at enhancing sustainability, reducing costs and fostering community engagement.

This comprehensive 30-year initiative is projected to generate more than $26,000,000 in net savings for the City. It includes significant energy efficiency gains through a series of strategic measures, including: integrating 1.6 megawatts of solar alongside a 250-kilowatt energy storage system, replacing and refurbishing HVAC units; implementing a battery energy storage system and an energy management system; installing new, efficient distribution transformers and generator heat pumps; and upgrading interior and exterior lighting to LED.

Additionally, ENGIE is taking the lead in spearheading an extensive community engagement effort as part of this initiative. This plan includes a range of programs, including: paid internships with the City; the placement of a CivicSpark Fellow to provide support for the Climate Action Plan; fostering economic development initiatives; establishing a living lab equipped with real-time solar data; bolstering support for the Parks and Recreation Department; facilitating after-school programs to help promote STEM activities; and continuing to revitalize the John Landes Community Center.

By acting proactively, the City of Oceanside was able to secure participation in a Net Energy Metering (NEM) 2.0 Program, which significantly enhances the financial benefits of the solar installations and grandfathers the City into the program for 20 years. Another component of the initiative is the implementation of a battery energy storage system. This system is anticipated to bring numerous benefits, including peak demand shaving, energy arbitrage and demand response capabilities. Oceanside is expected to receive a battery storage system incentive of $150,000 through the State of California’s Self Generation Incentive Program.

Moreover, the initiative aligns with the nationwide Inflation Reduction Act (IRA), allowing the City to benefit from direct pay tax incentive funding. The City qualifies for more than $3.2 million in IRA funding relative to solar and energy storage. This initiative is projected to reduce 4,200,000 kWh of electricity per year, which is equivalent to the greenhouse gas emissions of 641 cars annually. Additionally, the integration of solar infrastructure into the City’s Capital Improvement Plan directly contributes to the objectives of achieving 125 MW by 2030 and 165 MW by 2045.

“This initiative represents a significant step forward for Oceanside in our commitment to sustainability and community engagement,” said Mayor Esther Sanchez. “By working with ENGIE, we are not only improving our energy infrastructure but also creating opportunities for economic development and youth engagement. We are excited to see the positive impact this initiative will have on our city.”

“We are proud to collaborate with the City of Oceanside on this groundbreaking initiative,” said Jean-François Chartrain, Managing Director, Energy Solutions Americas at ENGIE. “By leveraging innovative solutions and fostering community involvement, we aim to create a more sustainable and resilient future for Oceanside residents. This alliance exemplifies our commitment to driving positive change through energy innovation.”

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About Oceanside
The City of Oceanside, incorporated in 1888, is a full-service coastal city situated between San Diego and Los Angeles that provides its own police and fire safety, library, water and sewer services. The City has a municipal airport, a beautiful harbor, one of the longest wooden piers in the west, golf courses, aquatic centers, numerous parks, community centers, and palm-lined beaches. Oceanside has a classic beach culture feel with a highly-rated Southern California livability factor, a thriving downtown arts and culture scene, unique architecture and historic buildings, and an efficient transportation hub. Visit www.oceansideca.org


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 97,000 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, 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.

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Contact Data

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

Rob O’Brien
City of Oceanside, Deputy City Manager
robrien@oceansideca.org

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ENGIE Announces Commissioning of its 100MW+ Sun Valley Utility Scale Battery Storage Project in U.S.

100MWh Project will Provide Services to Support Growing ERCOT Grid

HOUSTON – ENGIE North America (ENGIE) announced today that its Sun Valley Battery Storage project in Hill County Texas has been commissioned.

 The 100MW / 100MWh project is one of ENGIE’s largest utility scale storage facilities in the U.S. so far and is co-located with the company’s existing 250MW Sun Valley Solar project which commenced operation last year.

 “Sun Valley is our first 100MW+ co located energy storage project in the U.S. We have more than 2.0 GW of energy storage already under construction in Texas and other states expected to be commissioned by end of 2024. Together, these projects will contribute to ENGIE’s global aspiration of 10 GW of energy storage installed by 2030,” said Dave Carroll, chief renewables officer of ENGIE North America.

The Sun Valley Battery Storage project will provide reliability and ancillary services to meet ERCOT’s growing demand for electricity and is a key element in supporting the acceleration of the Net Zero energy transition.

 The storage system can dispatch electricity into the grid when needed, including the ability to meet peak hour electrical needs of some 10,000 average homes. The system can be charged both from the co-located solar facility as well as from the wider grid, when appropriate.

“ENGIE is already operating or constructing more than 7GW of renewable generation across North America and storage projects like Sun Valley provide complementary services to support greater penetration of renewables onto the grid,” said Carroll. “Co-located projects like this, alongside a leading portfolio of stand-alone facilities such as those recently acquired from Broad Reach Power mean ENGIE is able to support both the growing demand for renewables and enable greater reliability and resilience on the nation’s power grids.”

 The Sun Valley Storage project comprises 308 battery cabinets and involved more than 3,500 workdays to construct, including both local and regional skilled workers.

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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 96,000 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.

Contacts:

ENGIE North America
Michael Clingan, External Relations
Michael.clingan@external.engie.com
832-745-6057

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ENGIE accelerates in battery storage through the acquisition of Broad Reach Power in the United States

A major step towards ENGIE’s objective of reaching 10 GW of battery capacity within
the Group by 2030 to support the development of renewable energies

ENGIE announces it has signed a binding agreement for the acquisition of 100% of Broad Reach
Power, a company specialized in battery storage and based in Houston, from private equity funds
EnCap and Apollo.


The transaction involves 350MW of operating assets, as well as 880MW under construction
assets with a commissioning expected before the end of 2024, 1.7GW of advanced stage projects
and a significant pipeline of early stage projects. The projects are located in Texas, California and
the central states of the United States. Broad Reach Power skills, tools and teams are the perfect
fit, in and outside the United States, with ENGIE’s integrated model.


The acquisition will support the Group’s goal of having 10 GW of battery capacity globally by
2030. It will also strengthen ENGIE’s position as a leader in the energy transition in the United
States, where the group already has significant positions through its renewable assets (5GW in
operation at the end of 2022), battery storage and its energy management platform. The
development of these projects will respond to the strong need for flexibility generated by the
growth of the share of renewable energies in the energy mix and will increase ENGIE capacity to
provide 24/7 decarbonized electricity to his customers.


Completion of the transaction is expected by Q4 2023, subject to the fulfilment of certain
approvals from anti-trust and energy regulatory authorities.


For Catherine MacGregor, Chief Executive Officer of ENGIE: “This acquisition is fully in line
with ENGIE’s strategy: it will contribute to the development of a low-carbon, affordable and
resilient energy system where flexible assets will play a critical role alongside renewables.”


About ENGIE
ENGIE is a leading global group in low-carbon energy and services. With its 96,000 employees, its
customers, its partners and its stakeholders, the Group is committed every day to accelerating the transition
to a carbon-neutral world, thanks to more energy-efficient and more environmentally-friendly solutions.
Guided by its purpose, ENGIE reconciles economic performance and positive impact on people and the
planet by relying on its key businesses (gas, renewable energies, services) to offer competitive solutions to
its customers.

Turnover in 2022: 93.9 billion euros. Listed in Paris and Brussels (ENGI), the Group is represented in the
main financial (CAC 40, Euronext 100, FTSE Euro 100, MSCI Europe) and extra-financial (DJSI World,
Euronext Vigeo Eiris – Europe 120 / France 20, MSCI EMU ESG screened, MSCI EUROPE ESG Universal
Select, Stoxx Europe 600 ESG-X) indices.

 

ENGIE HQ Press contact:
Tel. France: +33 (0)1 44 22 24 35
Email: engiepress@engie.com
ENGIEpress

 

Investor relations contact:
Tel.: +33 (0)1 44 22 66 29
Email: ir@engie.com

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