Largest Financing to Date Supports Acceleration of Renewables and Continued Expansion for ENGIE in the U.S.
HOUSTON – ENGIE North America (ENGIE) announced that it recently completed more than $1bn of Tax Equity financing, through separate agreements with three banks, J.P. Morgan, Goldman Sachs and BNP Paribas. The financing pertains to a portfolio of recently commissioned renewable projects in the U.S.
The overall portfolio consists of 6 projects across ERCOT, MISO and SPP, including 950 MW of solar and 353 MW of wind capacity. The aggregate 1.3 GW of these renewable projects represents one of the largest Tax Equity financing arrangements for ENGIE North America so far.
“We are delighted that ENGIE is once again able to collaborate with some of the world’s leading financial institutions to accelerate the energy transition towards a net zero future,” said Dave Carroll, Chief Renewables Officer and SVP, ENGIE North America. “This transaction reflects our proven and recognized track record in developing, building and operating renewables assets, both in North America and globally”.
ENGIE is a leader in the net zero energy transition and currently has more than 7 GW of renewable production in operation or construction across the U.S. and Canada.
“ENGIE can rely on its strong relationships with leading financial investors to support its continued acceleration of renewable growth in the U.S.,” said Audrey Robat, Chief Financial Officer, ENGIE North America. “This deal also highlights the outstanding level of commitment and expertise of our teams in delivering reliable and affordable renewable generation to the grid.”
Globally ENGIE has an aspiration to add 4 GW per year globally through 2025, with North America as a material contributor to that growth.
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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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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
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
HOUSTON – Rhythm Energy, Inc. (“Rhythm”) a leading green energy technology company in the residential electricity space, is pleased to announce that it has secured a working capital facility from ENGIE Energy Marketing NA, Inc. (“ENGIE”), an affiliate of ENGIE North America Inc., a leader in the Net Zero energy transition. This collaboration will accelerate Rhythm’s mission to provide 100% renewable energy solutions to its customers across the country.
By offering innovative products, services and digital experiences, Rhythm is at the forefront of making the future of energy easy and cost-effective for residential customers. Rhythm’s commitment to clean energy is strategically aligned with ENGIE’s vision of creating efficient, long-term, carbon-reducing solutions that support customers through their renewable and low-carbon energy transition.
“We are thrilled to have ENGIE’s support as we continue our rapid growth, and market leadership towards a net-zero emissions future,” said PJ Popovic, CEO at Rhythm. “With electricity demand rising and constantly evolving in the context of the energy transition, there is an increasing need for innovative, consumer-focused solutions.”
The ENGIE facility will allow us to focus on continued development of our next-generation energy platform, which is already enjoyed by a rapidly growing number of customers. We will deliver unique, modern energy products, promote sustainable use through data and automation, and lead the energy transition,” said PJ Popovic.
“We are delighted to support Rhythm’s mission to promote renewable energy in the residential electricity sector,” said Ken Robinson, President at ENGIE. “Rhythm’s strong track record of technology leadership and innovative approach in the renewable energy space make them an ideal partner as we collectively work towards accelerating the transition towards a carbon-neutral world.”
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About Rhythm
Rhythm is empowering a greener future by offering 100% renewable energy plans across the nation. Founded in February 2020, Rhythm is already one of the highest-rated and fastest-growing energy providers in Texas. An award-winning company that’s truly centered around the customer and their experience, Rhythm is spreading good energy, one electricity plan at a time. Learn more at www.GotRhythm.com.
About ENGIE S.A.
ENGIE S.A. is a global leader in low-carbon energy and services. With its 96,000 employees, its customers, partners and stakeholders, the Group is committed to accelerate the transition toward a carbon-neutral world, through reduced energy consumption and more environmentally-friendly solutions. Inspired by its purpose (“raison d’être”), ENGIE reconciles economic performance with a positive impact on people and the planet, building on its key businesses (gas, renewable energy, services) to offer competitive solutions to its customers. ENGIE S.A. (ENGI), is listed on the Paris and Brussels Stock Exchanges.
In North America, ENGIE companies have delivered integrated, innovative energy solutions to public and private organizations for nearly half a century. We employ approximately 3,000 people focused on enabling our customers to become more sustainable and achieve their decarbonization targets through expert project delivery and competitive solutions. For more information on ENGIE in North America, please visit our LinkedIn page or Twitter feed, https://www.engie-na.com/ and https://www.engie.com.
Media Contacts:
Rhythm Energy: JP Campione, press@gotrhythm.com
ENGIE North America: Michael Clingan, michael.clingan@external.engie.com, (832) 745-6057
Comprehensive ‘Clean & Green Project’ Celebrated during Event Showcasing Water-Energy Nexus Upgrade Project to save $83 Million and, Reduce Greenhouse Gas Emissions by 93 Percent.
RICHMOND, CALIF. and HOUSTON, April 27, 2023 (GLOBE NEWSWIRE) — West County Wastewater’s (WCW) Board of Directors today announced the approval of Phase Two of their comprehensive energy improvement project. Phase Two initiates the addition of backup power to major energy facilities at WCW’s Water Quality and Resource Recovery Plant. ENGIE North America (ENGIE), a leader in the Net Zero energy transition, will be installing a battery energy storage system that will work in coordination with the cogeneration system, solar system and diesel generators.
The new microgrid will provide uninterrupted plant operations during weather or utility related outages, now commonplace in California. In 2022 alone, California led the United States with nearly one quarter of outages due to increasing temperatures, droughts, wildfires and a strained power grid. Working with ENGIE, the additions to major facilities are a part of WCW’s 5-year strategic plan. The infrastructure project will reduce greenhouse gas emissions by 93 percent and save more than $83 million over its lifetime.
ENGIE and West County Wastewater are collaborating on what will be a best-practice water-energy nexus technology model for sustainable water treatment. Along with the new microgrid, the project includes construction of a solar system, upgrades to LED lighting, electric vehicle charging stations, and various wastewater treatment process improvements to generate electricity and produce Class A biosolids.
“The WCW infrastructure improvements expand resilience in the face of wildfire and weather events that necessitate utility-imposed, Public Safety Power Shutoffs,” said Andrew Clough, General Manager from WCW. “This is a long-term collaboration to meet our sustainability goals and support the surrounding community. Since 2022 we have worked closely with ENGIE to engage local community members including college students for an internship and community engagement programs. This initiative is designed to complement the energy project goals and continue to bring job opportunities and economic benefits to the City of Richmond.”
Construction for Phase One of the Clean & Green Project is underway. Since building began in 2022, construction is nearly 25 percent complete with significant energy and operational savings already recognized. In concert with ongoing program implementation milestones, the ongoing facility upgrades were recently celebrated by the WCW Board, staff and special guests at an official Clean & Green groundbreaking ceremony on April 27, 2023.
“By partnering with West County, we are providing impactful and comprehensive energy, infrastructure designed to offset carbon emissions and provide substantial savings,” said ENGIE’s Chief Energy Solutions Officer, Stefaan Sercu. “Wastewater treatment is an especially energy-demanding operation—but wastewater districts that take advantage of ENGIE’s expertise at the energy-water nexus can make the improvements necessary for the reliability of their equipment, safety of the local community, and environmental sustainability.”
About West County Wastewater
West County Wastewater serves several communities in the Richmond, California, area. The organization owns, operates, and maintains a wastewater collection system with 249 miles of gravity sewer pipelines, 17 lift stations, 6 miles of pressure force mains, and a Water Quality and Resource Recovery Plant with a capacity of 12.5 million gallons per day (mgd). All told, WCW provides wastewater services to approximately 34,000 residences and 900 commercial and industrial businesses, with a total population of nearly 100,000.
About ENGIE S.A.
ENGIE S.A. is a global leader in low-carbon energy and services. With its 96,000 employees, its customers, partners and stakeholders, the Group is committed to accelerate the transition toward a carbon-neutral world, through reduced energy consumption and more environmentally-friendly solutions. Inspired by its purpose (“raison d’être”), ENGIE reconciles economic performance with a positive impact on people and the planet, building on its key businesses (gas, renewable energy, services) to offer competitive solutions to its customers. ENGIE (ENGI), is listed on the Paris and Brussels Stock Exchanges.
In North America, ENGIE has delivered integrated, innovative energy solutions to public and private organizations for nearly half a century. We employ approximately 3,000 people focused on enabling our customers to become more sustainable and achieve their decarbonization targets through expert project delivery and competitive solutions. For more information on ENGIE in North America, please visit our LinkedIn page or Twitter feed, https://www.engie-na.com/ and https://www.engie.com.
Contact Data
Michael Clingan
ENGIE North America
(832) 745-6057
michael.clingan@external.engie.com
Kate Gibbs
West County
(510) 390-4844
kgibbs@wcwd.org