Engie North America bought a 6-GW portfolio of solar and battery storage projects that are under development in the PJM Interconnection, the Electricity Reliability Council of Texas and other markets, the Houston-based company said Thursday.
The deal with Belltown Power U.S. includes 33 projects comprising about 2.7 GW of solar paired with 700 MW of battery storage and 2.6 GW of stand-alone storage, according to Engie NA. The early- to late-stage development projects are in ERCOT, PJM, the Midcontinent Independent System Operator and Western Electricity Coordinating Council footprints. Terms of the deal weren’t disclosed.
“The mix of solar, paired and stand-alone storage across a wide set of geographies both complements our existing portfolio as well as provides opportunities for expansion into new areas in the United States,” said Dave Carroll, chief renewables officer and head of Engie NA.
Engie NA, the North American subsidiary of the French energy company, owned 3.9 GW of renewables in North America at the end of June, it said. It expects to have 4.8 GW of operating renewable energy facilities by the end of the year.
Paulo Almirante, Engie’s senior executive vice president for renewable, energy management and nuclear activities, said the acquisition from Belltown Power is a step toward achieving Engie’s goal of 80 GW of installed renewable capacity by 2030.
The deal is the latest transaction in the renewable energy sector.
Earlier this month, Consolidated Edison agreed to sell its Con Edison Clean Energy Businesses to RWE Renewables Americas for $6.8 billion. Con Ed’s clean energy companies owned 3,061 MW of renewable energy capacity at the end of last year.
American Electric Power expects to close on the sale of 1,365 MW of unregulated wind and solar assets early in the second quarter next year, company officials said Thursday in an earnings call with analysts. Separately, the company is selling its 235-MW Flat Ridge 2 wind farm in Kansas.
AEP is in talks with a short list of bidders, according to Nick Akins, its CEO, president and chairman.
Duke Energy in August said it was shopping 5.1 GW of unregulated wind and solar projects.
