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
Tag Archive for: Solar
Cupertino, Calif. and HOUSTON – The Cupertino Union School District (CUSD), in collaboration with ENGIE North America (ENGIE), today announced a sustainability infrastructure project aimed at reducing the CUSD’s carbon footprint while enhancing educational opportunities for students. The project includes the installation of 5.1 megawatts of solar photovoltaic, 72 level two electric vehicle charging stations, and the implementation of two emergency generators for backup at the District Office and maintenance yard.
“The District’s 2019/2020 Facilities Master Plan identified energy efficiency as a priority. This project not only aligns with the CUSD’s commitment to sustainability but also creates valuable educational opportunities for our students,” said Senior Director of Communication, Erin Lindsey.
Beyond its resiliency, environmental, and financial benefits, the initiative integrates hands-on STEM learning opportunities throughout the District providing students with immersive experiences related to clean technology. These activities will also take place during the after-school Extended Learning Opportunities Program (ELO-P). Instructors will engage students by incorporating the sustainability infrastructure projects on the District’s campuses to enhance their understanding of sustainable energy concepts.
The comprehensive project, funded through a tax-exempt lease agreement and Federal Funding under the Inflation Reduction Act (IRA), is estimated to receive approximately $8.5 million in IRA funding. The anticipated net lifetime savings from the solar and EV charging infrastructure is more than $36 million dollars.
“This project strengthens the District’s commitment to sustainability, fiscal responsibility, and its goal of providing a conducive learning environment for all students and staff,” said Jean-François Chartrain, Managing Director, Energy Solutions Americas at ENGIE. “CUSD is taking significant strides toward reducing its carbon footprint but also paving the way for a brighter, more innovative future. ENGIE is proud to collaborate with Cupertino on this transformative journey.”
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About Cupertino Union School District
In 1917, the four original one-room school districts in Cupertino – San Antonio, Lincoln, Doyle, and Collins – consolidated into what is today the Cupertino Union School District (CUSD). More than a century later, CUSD now comprises of 17 elementary schools, one K-8 school, and five middle schools which serve families across six Bay Area cities including Cupertino and portions of Sunnyvale, San Jose, Saratoga, Los Altos, and Santa Clara.
Located in the heart of Silicon Valley, CUSD consistently ranks amongst the top performing elementary (TK-8th) school districts in California. The District employs approximately 1,390 Full Time Equivalent (FTE) staff and serves a highly diverse student population of approximately 13,500 that encompasses more than 20 nationalities and 45 languages.
The District’s Strategic Plan focuses on relevant and rigorous instruction, personalized learning, and a whole-child approach to preparing students for success. CUSD is proud of its outstanding academic programs, highly-qualified teachers, and strong parent support.
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:
Cupertino Union School District
Erin Lindsey, Senior Director of Communication
Lindsey_erin@cusdk8.org
408-252-3000, ext. 61206
ENGIE North America
Michael Clingan, External Relations
Michael.clingan@external.engie.com
832-745-6057
ENGIE Energy Marketing (ENGIE) today announced an innovative agreement to provide renewable energy to cover the consumption of select Microsoft data centers in Texas. By utilizing existing renewable energy contracts between the two companies, this collaboration will accelerate Microsoft’s mission to transition to 100% carbon-free energy on an hourly basis by 2030.
This customized agreement will allow Microsoft, one of the world’s largest purchasers of renewable energy, to match ERCOT data center load with clean power. ENGIE, a leading developer and owner of renewable power capacity, will source the energy from their portfolio of wind, solar and battery projects in Texas.
Microsoft is recognized as a leader in the industry with the 100/100/0 goal which aims to have 100% of electricity consumption, 100% of the time, matched by carbon-free energy purchases by 2030. With this deal in Texas, ENGIE is providing direct support of Microsoft’s ambition to drive grid decarbonization.
ENGIE is well positioned to deliver on Microsoft’s ambition through its integrated approach – from building and operating renewable energy generation and storage assets to sourcing power through its global energy management activities.
“Microsoft continues to be a leader in the market for corporate renewable energy procurement and a key alliance for ENGIE in the Net Zero energy transition,” said Ken Robinson, ENGIE Energy Marketing N.A. President and CEO. ” We are proud to help them achieve their ambitions, where many other companies continue to struggle. Our goal is to grow our 24×7 hourly carbon-free matching program in key markets with electricity generated from zero carbon energy sources including wind and solar.”
“We are excited that this project has kicked off and will provide us meaningful insight into future hourly carbon free program design,” said Adrian Anderson, Microsoft General Manager, Renewables and Carbon Free Energy. “We look forward to working with ENGIE to meet our 100/100/0 goals.”
Projects will support lower cost energy for households, organizations and businesses often unable to participate in the benefits of the energy transition.
HOUSTON – ENGIE North America (ENGIE) is collaborating with Microsoft on the development of two community solar projects in Illinois that will serve historically excluded communities and significantly reduce electricity costs for them.
ENGIE will develop, construct, and operate two new community solar gardens, one in Lena, IL west of Rockford, and a second in downstate Illinois. Together, the projects are expected to have a capacity of 4.75 MW, enough to meet the annual electricity needs of more than 1,000 average Illinois households with clean, carbon emissions-free power.
ENGIE and Microsoft will work with leading community solar provider, Solstice, who engages directly with residents, businesses, and community organizations to enroll and manage community solar customers with local community gardens like the ones in Lena and downstate Illinois. Community solar enables households, small businesses and other organizations to benefit from renewable electricity without the need to install their own panels by effectively sharing local, centralized installations. Solstice’s partnership and community organizing model help provide access to renewables for the estimated 77% of Americans who do not have access to roof space or the financial means to install rooftop systems and expands access to traditionally excluded populations.
Traditional approaches to financing have limited the ability of many to install roof-top solar. Solstice has pioneered EnergyScore, a machine learning algorithm to qualify individuals more inclusively and accurately for green products. The focus for these two solar gardens will be on providing access to renewable power to traditionally under-resourced communities, not-for-profit organizations, and other economically disadvantaged groups.
Customers who subscribe to the solar garden program will not only be supporting the transition to a lower carbon future but will also benefit from reduced electricity costs. Because of Microsoft’s involvement in financing the development, customers subscribed to these two solar gardens can expect to see even greater savings than from the current Illinois Shines community solar program. Once fully subscribed, the two solar gardens could save Illinois subscribers around $450,000 in total, with some subscribers benefiting from up to 60% savings through participation.
“At a time when energy costs are rising and are a particular burden on lower income communities, the opportunity to access clean, renewable, locally produced power and reduce daily costs is an important part of accelerating the energy transition in a just way – widening the population who can benefit as we all work to decarbonize our economy” said Laura Caspari, Senior Vice President Power Marketing and Commercial Strategy, ENGIE North America. “This innovative collaboration with Microsoft to help grow access to lower cost renewables for residents and organizations across Illinois reflects our shared desire to widen the positive impact of the energy transition to an increasingly diverse set of communities.”
“As we at Microsoft work toward a more sustainable and equitable future, we are pleased to collaborate with ENGIE and Solstice to help facilitate access to lower cost community solar for communities who have previously been excluded from these opportunities,” shared Danielle Decatur, Microsoft Director of Environmental Justice.
In Illinois, community solar projects were enabled through the 2016 Future Energy Jobs Act (FEJA) and subsequent 2021 Climate and Equitable Jobs Act (CEJA). Power from the solar gardens is fed into the local grid and credited to customers through their existing utility bills with ComEd and Ameren. This new project model provides renewable volume above-and-beyond existing state programs. ENGIE is hopeful that in the future similar projects will bring economic benefit to under-resourced communities in Illinois while accelerating the state’s energy transition goals.
Construction of the two projects both in rural counties, will be led by ENGIE’s Chicago based team and is expected to commence later this year.
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About the ENGIE Group
The ENGIE Group (made up of ENGIE S.A. and its subsidiaries and affiliates) 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.
About Solstice
Solstice is dedicated to bringing affordable solar power to the 77% of Americans who cannot install a rooftop system. It connects residents and community organizations to nearby shared solar farms, creates financing innovations that expand access to underserved Americans (the EnergyScore), and provides frictionless subscriber management software for community solar projects. Solstice has partnered with municipalities, employers, and nonprofits across the country and won awards from the Department of Energy, Inc. Magazine, and Elle. Together with its partners, Solstice is building an equitable energy future for every American.
Media Contacts:
ENGIE North America: Michael Clingan, michael.clingan@external.engie.com
Solstice: mary@solstice.us
The 200MW Sun Valley Solar agreement will represent power equivalent to the annual electricity needs of more than 50,000 U.S. homes and support the local agricultural eco-system.
CINCINNATI and HOUSTON, Sept. 20, 2022 /PRNewswire/ — Procter and Gamble (P&G) and ENGIE North America (ENGIE) announced today a 200 MW Power Purchase Agreement from ENGIE’s Sun Valley Solar project located in Hill County, Texas, 65 miles southwest of Dallas.
This solar energy agreement is the largest for P&G globally. Once production commences at Sun Valley later this year, it will supply P&G with more than 530,000 MWh of renewable power annually. For comparison, that is enough renewable electricity to power 1 in every 3 residences in P&G’s home city of Cincinnati, OH.
The agreement with ENGIE North America, a subsidiary of ENGIE S.A., a global leader in the transition to renewable energy, is part of P&G’s comprehensive plan to accelerate action toward net-zero GHG emissions by 2040. The agreement is expected to displace the equivalent of more than 367,000 metric tons of CO2-equivalent from the electricity grid each year.
“Partnering on new renewable power projects brings long-term, zero emissions renewable electricity on-line and is an important strategy to help us achieve our goal of purchasing 100% renewable electricity.” said Jack McAneny, P&G Vice President Global Sustainability. “We are excited to work with ENGIE on projects like Sun Valley that progress our strategy and provide benefits to the local community.”
The Sun Valley Solar project is part of ENGIE’s more than 5 GW of wind, solar and storage in operation or construction across North America. The 250 MW project will become a long-term contributor to the 36,000 residents of the Hill County community. The project is expected to generate tax revenues of around $8 million to support county services and an additional $18 million in revenues to the Abbot School district, supporting teachers and educational infrastructure over the life of the project.
“We are very much in the ‘era of renewables’ and the clear targets set by P&G reflect the acceleration of that trend – we are honored to build on our long-standing relationship with them,” said Dave Carroll, Chief Renewables Officer, ENGIE North America. “These are long-term projects that will not only produce renewable power, but provide jobs, tax revenues and economic growth, and we are privileged that the Hill County community is part of this journey. We have activities in more than 100 counties across the U.S. and Canada – the energy transition is really one that will be powered by communities across the continent.”
As part of the development, a portion the project will be planted with locally appropriate vegetation that supports pollinators, such as butterflies and bees that are critical to the longer-term sustainability of wider agricultural eco-system.
Once in operation, up to 1500 head of sheep will also graze the site, providing natural vegetation management around and under the solar installation.
‘Both P&G and ENGIE North America brought a vision to this project that strategically considered how to weave multiple benefits into the renewable energy platform of the project. Pollinator health and habitat benefits are one of those multiple benefits that will help deliver on the overall sustainability goals and mission of both companies.’
– Peter Berthelsen, President Conservation Blueprint
Construction is underway at Sun Valley, creating 300-400 temporary jobs, while up to six new permanent roles will support local operations over the life of the project.
About Procter & Gamble
P&G serves consumers around the world with one of the strongest portfolios of trusted, quality, leadership brands, including Always®, Ambi Pur®, Ariel®, Bounty®, Charmin®, Crest®, Dawn®, Downy®, Fairy®, Febreze®, Gain®, Gillette®, Head & Shoulders®, Lenor®, Olay®, Oral-B®, Pampers®, Pantene®, SK-II®, Tide®, Vicks®, and Whisper®. The P&G community includes operations in approximately 70 countries worldwide. Please visit https://www.pg.com for the latest news and information about P&G and its brands. For other P&G news, visit us at https://www.pg.com/news.
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.
Contacts
Procter & Gamble
Lindsey Morahan, Corporate Communications
mediateam.im@pg.com
ENGIE North America
Michael Clingan, Press Relations
Michael.clingan@external.engie.com