Engie North America has expanded its partnership with Ares Management Infrastructure Opportunities funds via the addition of a 0.9-gigawatt portfolio.
Engie will retain a controlling share in the portfolio and will continue to operate and manage the assets.
The portfolio consists of three solar projects in operation across the Electric Reliability Councill of Texas ( Ercot ) and Midcontinent Independent System Operator ( 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 US,” says Dave Carroll, senior vice president and chief renewables officer, Engie North America.
Engie currently has more than 11GW of renewable production in operation or under construction across the US and Canada. Globally, Engie has 51GW of renewable energy and storage facilities in operation, and is targeting 95GW by 2030.
The latest transaction supports Engie’s strategy of continued investment in North America by deepening its partnership with a leading infrastructure investor and recycling capital to facilitate continued expansion of renewable generation to meet strong demand for power in the US.