ENGIE partners with Ares for 2.7 GW renewable energy in U.S

On September 12, 2024, ENGIE North America announced a significant partnership with Ares Management, marking a pivotal moment in the renewable energy sector. This collaboration involves a 2.7 GW portfolio comprising 15 operational projects across various U.S. energy markets, including ERCOT, MISO, PJM, and SPP. The portfolio is diversified, with 53% solar, 25% wind, and 22% co-located battery storage capacity, showcasing ENGIE's commitment to a sustainable energy future. The transaction is noted as ENGIE's largest operating portfolio sell down in the U.S. and one of the most substantial sales in the renewables sector based on total capacity. This strategic move aligns with ENGIE's broader goal of accelerating the energy transition towards a net-zero future, as emphasized by Dave Carroll, Chief Renewables Officer at ENGIE North America. Ares Management's investment reflects confidence in ENGIE's established track record in developing and operating renewable assets. Steve Porto, a partner at Ares, highlighted the partnership's potential for diversification across proven technologies and geographies, reinforcing the importance of collaboration in building climate infrastructure. ENGIE's ongoing efforts in North America include over 8 GW of renewable production in operation or construction, demonstrating its leadership in the net-zero energy transition. This partnership not only recycles capital but also enhances ENGIE's network of infrastructure investors, further solidifying its position in the renewable energy landscape.