Press Release Renewables

ENGIE North America Completes $800M Financing for Recently Commissioned 665 MW of Renewable Projects

Date: 03/31/2022

Equity and tax-equity financing with multiple partners continues to support growth of 4 GW operating portfolio in North America.


HOUSTON, March 31, 2022 /PRNewswire/ — ENGIE North America (“ENGIE”) announced it has successfully completed Tax-Equity financing for its Iron Star and Priddy wind projects and Equity financing for the portfolio of these assets plus the Hawtree solar project which recently declared commercial operations. Together they total approximately 665 MW.

The two wind projects located in Ford County, Kansas and Mills County, Texas, respectively, are owned by affiliates of ENGIE. The Hawtree project is in Warren County, North Carolina. Leading financial institutions participated in the financing which included long-standing Tax-Equity relationships with Bank of America and Wells Fargo among others and a new relationship with InfraRed Capital Partners (US) (“InfraRed”) who provided equity investments for the projects.

A wholly owned ENGIE affiliate is operating the Iron Star, Priddy and Hawtree projects pursuant to long term balance of plant operation and maintenance agreements with the project companies. The projects are part of the more than 4 GW portfolio of renewable energy assets currently managed by the company across North America.

“We are excited to again collaborate with Bank of America and Wells Fargo among others to fund our growing renewables portfolio. We are also happy to be joined by a new equity partner in InfraRed – we are creating long-term relationships that are helping to accelerate the journey to carbon neutrality across the United States.” said Eric De Caluwe, Head of Acquisitions, Investments and Financial Advisory (AIFA) for ENGIE North America.

“ENGIE’s deep operating experience of renewable projects coupled with our relationships with leading financial institutions such as Bank of America, Wells Fargo and InfraRed provides the strongest foundation possible to meet the need for major expansion of wind, solar and storage capacity across North America,” said David Carroll, Chief Renewables Officer, ENGIE North America. “With more than 4,500 MW of renewables in operation or construction in North America, building strong collaborations such as these is a cornerstone of our approach”.

There are 62 wind turbines capable of producing 4.8 MW each in commercial operation at the Iron Star project and 63 turbines of the same size operating at the Priddy project. The Hawtree project’s installed capacity is equal to 65 MWac. The renewable power that is produced at the projects will be sold under previously agreed long-term Power Purchase Agreements. The three projects will become long-term neighbors and members of their Kansas, Texas and North Carolina communities, diversifying and supporting local economic development and putting Ford, Mills and Warren Counties at the heart of the energy transition.

“Wells Fargo is proud to support large scale renewable energy projects like Iron Star and Priddy” said Philip Hopkins, head of Wells Fargo’s Renewable Energy & Environmental Finance group. “Providing expertise and capital to important customers like ENGIE is just one way we are helping accelerate the transition to a lower-carbon economy.”

Jack Paris, Head of the Americas for InfraRed Capital Partners, said “We are delighted to invest in Iron Star, Priddy and Hawtree and look forward to building a strong relationship with an experienced and industry leading partner, such as ENGIE. This investment expands our activities in North America and supports our significant growth ambition in the clean energy sector.”

The three projects were constructed during 2021 and early 2022 and can produce enough renewable power to meet the needs of around 200,000 average American homes.

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 170,000 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, and

ENGIE North America Media Contact:
ENGIE North America: Michael Clingan,, (832) 745-6057

SOURCE ENGIE North America

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