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ENGIE Expands Partnership with Ares Management with Addition of Nearly 1 GW Portfolio of Solar and Storage Assets in the U.S.

Additional Portfolio Brings Relationship to 3.7 GW of Investment in U.S. Generation

HOUSTON – ENGIE North America (ENGIE) announced that it recently expanded its partnership with Ares Management Infrastructure Opportunities funds (Ares) via the addition of a new almost 1GW portfolio. ENGIE will retain a controlling share in the portfolio and will continue to operate and manage the assets.

The overall 0.9 GW portfolio consists of three solar projects in operation across ERCOT and 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 U.S.,” said Dave Carroll, Chief Renewables Officer and SVP, ENGIE North America. “The addition of another almost 1 GW of generation and storage to our existing relationship reflects the commitment both ENGIE and Ares have to meeting growing demand for power in the U.S. and continuing to deploy clean energy.”

ENGIE is a leader in the energy transition and currently has more than 11 GW of renewable production in operation or construction across the U.S. and Canada. Globally, ENGIE has 51 GW of renewables and storage in operation, and targeting 95 GW by 2030.

This transaction supports ENGIE’s strategy of continued investment in North America by deepening its partnership with a leading infrastructure investor, recycling capital to facilitate continued expansion of renewable generation to meet strong demand for power in the U.S.

“We are excited to be expanding our relationship with ENGIE through this latest transaction,” said Steve Porto, Partner in Ares’ Infrastructure Opportunities strategy. “We have seen first-hand the ENGIE team’s strength as an operator, and the growth of this partnership reflects our shared confidence in the value proposition of this diversified portfolio and opportunities ahead in the infrastructure sector.”

 

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About ENGIE North America

Based in Houston, Texas, ENGIE North America Inc. is a regional hub of ENGIE, a major player in the energy transition, whose purpose is to accelerate the transition towards a carbon-neutral economy. With 98,000 employees in 30 countries, the Group covers the entire energy value chain, from production to infrastructures and sales. ENGIE combines complementary activities: renewable electricity and green gas production, flexibility assets (notably batteries), gas and electricity transmission and distribution networks, local energy infrastructures (heating and cooling networks) and the supply of energy to local authorities and businesses. Every year, ENGIE invests more than $10 billion to drive forward the energy transition and achieve its net zero carbon goal by 2045. ENGIE (ENGI), is listed on the Paris and Brussels Stock Exchanges.  For more information on ENGIE in North America, please visit our website at www.engie-na.com or our LinkedIn page.

 

About Ares Management

Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of December 31, 2024, including the acquisition of GCP International which closed on March 1, 2025, Ares Management Corporation’s global platform had over $525 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.

 

Contacts:

 

ENGIE North America

Michael Clingan, External Relations

Michael.clingan@external.engie.com

832-745-6057

 

Ares Management

Jacob Silber | Brennan O’Toole

media@aresmgmt.com

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2024 Full-year Results

Another year of strong operational and financial performance
Proposed dividend of €1.48 per share for 2024


Business highlights

  • Record level of activity in Renewables with 4.2GW added in 2024, bringing total capacity to 46GW1
  • Acceleration in battery storage with more than 5GW of capacity in operation or under construction at 31 December 2024
  • Expansion in power transmission with the award of close to 1,200km in Brazil and Peru
  • Continuous progress in our Net Zero 2045 trajectory with a 55% reduction in GHG emissions from energy production compared to 2017 to 48Mt in 2024.
  • Approval by the European Commission of the final agreement on Belgian nuclear

 

Financial performance

  • High end of the 2024 Guidance achieved with NRIgs2 of €5.5bn, an organic increase of 3.4%
  • EBIT excluding nuclear of €8.9bn, down 5.6% organically versus a high 2023 basis for comparison
  • Strong CFFO3 generation at €13.1bn
  • Maintaining a solid balance sheet with economic net debt to EBITDA ratio at 3.1x stable vs. end-2023
  • Net financial debt and economic net debt at €33.2bn and €47.9bn respectively
  • Proposed increased dividend of €1.48 for 2024, corresponding to a pay-out ratio of 65%


Read more >> 

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Interconnecting Renewables to the Grid: Opportunities, Challenges and the Future

As energy demand grows, so does the demand to interconnect renewable energy resources to the grid. According to Queued Up: 2024 Edition, an annual study on the characteristics of power plants seeking interconnection in the US published by Lawrence Berkeley National Lab (LBNL), there is currently more than 1,480 GW of zero-carbon generating capacity seeking transmission access. Although generating capacity and demand grow, grid interconnection remains one of the top challenges for renewable energy.

However, with several major rulings and proposals, there have been important developments in the transmission and interconnection space—from increased interconnection request requirements and costs, to getting the most out of the existing grid with Alternative Transmission Technologies (ATTs). The below explores the current setting and how to navigate the challenges of interconnecting renewable resources to the transmission grid.

FERC Order No. 2023

In response to the interconnection backlog, the Federal Energy Regulatory Commission (FERC) issued Order 2023 which aims to streamline the interconnection process. This reform required a cluster study approach across all the Independent System Operators (ISO) and Transmission Owners (TO), which attempts to study a group of projects within the same electrical region or zone at once. To standardize the process, the order also increased readiness requirements through a first ready, first served approach.

This regulation poses both challenges and opportunities for organized and non-organized energy markets. The cluster study approach minimizes study time and reduces cost, since traditionally the utilities would study projects serially. However, it also introduces delay in the study process and dependency on other projects studied in the cluster.

In large clusters with more than 20-30 projects it is very difficult to isolate multiple “what if” scenarios and understand the cost implications if other projects decide to drop out of the queue or don’t advance forward. The uncertainty in terms of cost and schedule is far more uncertain in a cluster process.

The organized markets (i.e. the ISOs) have already implemented much of what Order 2023 requires. This includes the cluster studies and requirements like withdrawal penalties, site control, and higher interconnection deposits. Since these requirements have already been implemented by multiple ISOs such as CAISO, SPP, PJM, and MISO, the impacts here are minimal.

Where FERC Order 2023 has greater implications is the non-organized markets. This is also where most of the queue was serial and the cost of entry was fairly inexpensive. Although the changes in these markets will eventually be helpful, there have been some challenges and delays to active projects as the utilities try to transition to the FERC Order 2023 guidelines.

The Order still leaves a gap on how to tie the interconnection process to long-term planning needs, thus exposing the generators to cost and schedule risks and uncertainties. It also leads to inefficiencies in how the system is planned, which is not only inefficient but also more expensive — not only for the developers but also for the rate paying customers.

FERC Order 1920

In 2024, FERC issued Order 1920 which aims to proactively plan for the future transmission system, including the interconnection of new generating resources. These reforms require proactive multi-driver and multi-benefit long term planning that considers any system upgrades identified through the interconnection process. This order also takes into account the integration of Alternative Transmission Technologies and Grid-Enhancing Technologies (GETs) to offer potential solutions for a more predictable and efficient energy grid. The criteria laid out in order 1920 aims to extend and apply to not only long-term planning but also the joint targeted interconnection queue, long range transmission planning and intra-regional planning efforts led by various ISOs.

The aging grid and new technologies

The U.S. power grid was designed for a different era and now faces the challenge of integrating renewable energy sources. FERC Orders 2023 and 1920 require transmission providers to evaluate Alternative Transmission Technologies such as dynamic line ratings, advanced power flow devices, and advanced conductors. These technologies, while not mandated, offer a bridge to faster and cheaper renewable energy integration.

Grid-enhancing technologies (GETs)

GETs can typically be deployed in months, if not weeks, and are considerably cheaper than their long-term counterparts. To-date, these GETs have been used in operational scenarios, specifically topology optimization, so it’s in the independent power producers (IPPs) interest to study the benefits of these technologies on their project. Most of the IPPs have performed studies to evaluate cost benefit and then proposed to TOs to implement.

So far, IPPs have evaluated and studied dynamic line rating and topology optimization. These have been deployed by many utilities in their current operating scenarios, while managing outages. The next step is to have enough studies to show the benefits and establish a proactive process for proper evaluation and implementation on the TO side. After several years of effort working with MISO, there is a process to get them evaluated in that grid operator. Some of our recent efforts have also come to fruition in ERCOT, but in SPP we still haven’t been able to make a breakthrough.

Just a few years ago, there was little-to-no discussion happening on how to adopt these grid enhancing technologies. Today, there are several FERC Orders such as 881, 2023 and 1920 that demonstrate the need for adopting GETs not only in the operational environment but also as we plan the grid in transmission planning. FERC Order 1920 requires that GETs be evaluated as the ISOs andTOs plan the system.

Challenges and opportunities for IPPs in GETs adoption

The biggest challenge for IPPs is the lack of clarity and transparency in the evaluation of proposing GET solutions. This is true in both the interconnection process as well as during the operational process. There is no one-stop-shop to where the criteria, contacts and processes are listed, so the evaluation is not transparent for the interconnection customer.

However, the biggest opportunity is that these solutions are win-wins for interconnection customers (IC), ISO’s and TOs. In a study done by ENGIE and New Grid (a TO software provider), by reconfiguring just three constraints resulted in approximately $151M USD market congestion costs saving annually. This was done with minimal investment and was deployed within one month. These congestion costs savings not only help the ICs, but the savings transfer to the rate payers.

Solving this congestion problem will eventually help end customers, who are the main stakeholders for any ISO/TO. We are in a time where ISO/TO do not have to do this on their own, but they can count on ICs as their partners — where we can collaboratively provide detailed technical studies, feedback, and reviews to develop this process. The modern grid needs modern solutions, and GETs are a part of that solution.

Need for future reforms

FERC Order 1920 and 2023 are good initial steps, but there is still more work to be done. Several additional reforms are needed to speed up the interconnection backlog include:

1. Requiring study automation, including quality check reviews to ensure the information passed on to stakeholders is reliable. This should include setting up an independent interconnection study monitor.

2. Fast track projects that do not need or already have network upgrades.

3. Require that all the cost-effective solutions (such as GETs) are studied and evaluated when a transmission constraint is identified during the interconnection process.

4. Ensure transparency of the reporting of transmission construction phases to stakeholders.

The above and more reforms have been proposed by industry groups to FERC, and hopefully we see more improvements coming down the pipeline.

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ENGIE and Meta announce new 200 MW renewable energy agreement expanding existing relationship to meet growing power demand

HOUSTON – https://www.engie-na.com/ (ENGIE) and Meta announced they recently completed a second Environmental Attributes Purchase Agreement (EAPA) in 2024. The agreement will see ENGIE supply 200 MW of renewable energy and associated environmental attributes from its Anson 2 solar project in Jones County Texas furthering support of Meta’s growing power needs in line with its net zero goals.

Meta will purchase environmental attributes and energy from the facility which is expected to commence operation in late 2025. Anson 2 solar project was developed by ENGIE, who will also construct and operate the project located northwest of Abilene, Texas.

“We are excited to expand our relationship with Meta, increasing the provision of renewable power that supports their growth and aligns with their net zero commitments,” said Dave Carroll, Chief Renewables Officer and EVP, ENGIE North America. “This is the second agreement we completed with Meta in 2024 and reflects our commitment to develop and operate projects that meet the needs of our customers. We are delighted to further our collaboration with Meta, working together to meet growing demand for power in the U.S. and accelerate the energy transition.”
The 200 MW from Anson 2 will add to the more than 12 GW of renewable energy procurement already announced by Meta.

“We are delighted to be deepening our collaboration with ENGIE, making the clean energy transition a reality through the projects we are working on together,” said Urvi Parekh, Global Head of Energy, Meta. “Since 2020, we have maintained net zero emissions in our global operations – these efforts are supported by relationships such as those with ENGIE with a strong track record of delivering and operating projects that support our operations, help meet our energy needs and implement our net zero goals.”

The Anson 2 project is expected to employ over 300 skilled workers during construction, many of them local to the region and generate more than $56 million in tax revenues to support the local community over the life of the project. This includes some $28 million to local school districts. Once operational it will expand the existing ENGIE portfolio of around 8 GW of renewable projects including solar, wind and battery storage in operation or construction across North America.

This agreement continues to reflect ENGIE’s position as one of the leading providers of power purchase agreements (PPA) globally.

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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 its 97,000 employees around the globe, clients, partners and stakeholders, the Group strives every day to accelerate the transition towards a carbon-neutral economy, through reduced energy consumption and more environmentally friendly solutions. Inspired by its purpose statement, 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 clients. In North America, ENGIE helps its 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

Meta
Ashley Settle
ashleysettle@meta.com
650-512-3565

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Meeting Future Power Needs

It is estimated that the world will need more than 93 million miles of transmission lines, the distance between the Earth and the Sun, to face future power needs (IEA, 2023). Over the past 120 years, 50 million miles of transmission lines have been developed, but experts say we will need an additional 40 to 50 million miles in the next 30 years to keep up with growing demand.

The impact of increased electrical consumption and renewable energy
This rising development is due to increased electrical consumption (electric vehicles, data center development, AI acceleration, etc.) and the evolution of renewable energy sources. Renewable energy sources now allow us to focus on developing generation in the places where it is most efficient to do so, instead of having to necessarily be close to our direct customers. In the past, generators were incentivized to develop thermal plants as close as possible from the consumption area to enable better cost efficiency. But today, with renewable energy sources, the focus is generation efficiency. This opens up more options, such as choosing a wind corridor or vast enough land in the desert to deploy a solar plant.

Distance is a major factor to the current delay in keeping up with power demand, as transmission line buildout cannot keep up. This is a huge challenge that we, as an industry, need to prioritize — helping to facilitate faster infrastructure and power generation development. It is critical that we work together to accelerate our decisions and investments to help face these challenges.

Balancing generation and demand
Even if we are successful at accelerating the extension of transmission lines, the operation of our power grid is still a huge roadblock. Increase in power usage, coupled with intermittent renewable power generation, challenges the balance between generation and demand.

The need for energy storage solutions
There’s no doubt that providing power to cover the demand peak in our future is an issue that keeps us up at night. We all know power is very difficult to store, but something must change. We must look at assets that enable flexibility on the grid, such as battery storage or pumped storage, but let’s not forget the importance of green or low-carbon gas. The energy transition needs the alliance of the electron and the molecule. It is important for us to work together, and center the business model, to develop assets involving the synergy between gas and electricity. The affordability and feasibility of the transition depends on it.

The role of gas in the energy transition
Recent pragmatic policies have emerged, calling for new thermal plants to be built (such as in Texas or in the United Kingdom). It is believed that we cannot handle the demand peak, and keep energy affordable, without gas-fired plants until well into the transition. With these gas-fired plants, we should remain open to “hydrogen ready” options, as well as the maturement of renewable gases such as biomethane and e-methane.

Reviving the debate on underground gas storage
The important role gas can play in meeting power demand has also revived the debate around underground gas storage. Embedded in the natural gas seasonal economy, storage is often forgotten in future planning. It has the capability of providing fast cycling services, enabling a mid-term storage delivery (storing gas for several days with the aim for it to become power) which is a smart complement to batteries (storing power for several hours).

Proven solutions for reliable grid service
The industry must consider solutions that are proven to deliver reliable service to the grid — supporting peak generation. At ENGIE, we operate fast cycling storage in the United Kingdom and are actively working on a Hydrogen Underground Storage Business Model with the UK government. As we investigate opportunities to assist with transmission and grid congestion, we must take into consideration lead time on the execution of solutions (such as underground storage), as well as the regularity of investment decisions to enable a delivery at the right time.

Shaping the future of energy
At this moment, it’s exciting to work in the energy industry, as we have been given the opportunity to collaboratively shape the energy systems of the future. By utilizing renewables sources for generation efficiency, looking at assets that enable flexibility on the grid, remaining open to hydrogen-ready options, and valuing underground gas storage, we are empowering low-carbon energy solutions to meet the unprecedented demand for power and facilitate faster infrastructure and power generation development.

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Utility-Scale Renewable Projects

The success of utility-scale renewable projects hinges on more than just energy production; it depends on the strength of relationships with local stakeholders and meaningful investment in the communities. This means that companies must not just earn but also maintain their social license to operate within a community. By adopting a long-term perspective, companies can safeguard their projects. That perspective will not only contribute to sustainable energy goals but also support local development and foster enduring community relationships.

Relationship building matters
As owners and operators of utility-scale renewables projects, we understand that we will be present in these communities for decades to come. With any power production facility, it is natural to think of the physical infrastructure, but we must be mindful that there are people behind every one of our projects. As such, we need to engage with a wide range of community members: from local business owners, landowners, elected officials, first responders, educators, and more.

When considering a location for a new utility-scale wind, solar or battery project, we invest an appreciable amount of time in research to understand the needs of the community. Our engagement approach focuses on discerning the unique needs and aspirations of each community with the goal of understanding what is important within the community and building meaningful relationships around their needs. As we move forward with a project, the engagement process continues. We look to build ongoing relationships with the local schools as well as vocational and community colleges. We look for opportunities to celebrate certain project milestones with the community. For example, when we begin the operations phase of the project, we celebrate with a ribbon cutting ceremony to thank all the people who helped make the project possible. Additionally, we ensure that the project’s site manager is connected to the community as a means of encouraging ongoing communication.

Landowners are key to our projects
Landowners are foundational for the success of clean energy. We are proud to help them protect their family legacy by providing additional financial security through our projects. From the very beginning of a project, our team connects with landowners, gauging their interests and establishing long-term relationships. We ensure two-way communication with our landowners throughout the project lifecycle, keeping them informed and involved at each phase of our projects.

Open dialogue in community opposition
When undertaking any large-scale infrastructure project, it is unlikely to have unanimous agreement. Community concern is one of the leading causes that renewable energy projects are cancelled or significantly delayed, according to the Lawrence Berkeley National Laboratory. We believe that dialogue, even when difficult, is a critical part of the public engagement process. We are present in community meetings and take an active engagement approach to hear concerns and discuss options.

Supporting local economies
When becoming part of a community, supporting the local economies is important. Our projects create an economic ripple effect that goes well beyond our immediate operations. This includes construction, long-term job creation and the potential for local businesses to support the construction and ongoing operations. By infusing substantial tax revenues into local economies, we support new investments in local schools, roads, bridges, and other community services.

Safety is our number one priority
Safety is not only a requirement; it is a responsibility. Safety is something we take seriously and work to ensure safety measures are in place throughout our operations on a project. We engage and partner with local emergency services by providing them with additional training and insight to ensure they are prepared to respond to any situation at our sites. Operating in a safe and secure manner is our top priority to ensure the wellbeing of our neighbors, our employees, and the broader community.

Driving positive change — globally and locally
In the communities where we operate, it is essential to prioritize engagement, open dialogue, and long-term commitment. With these practices, not only are our projects advancing the future of clean energy, but they are also contributing to local economic and social development. As we continue to build, operate, and manage these projects, we remain steadfast in our commitment to be safe, responsible, and responsive owners and operators and create lasting positive impacts — locally and globally.

If you have any questions, concepts, or ideas, or would like to learn more about our work in community engagement, please feel free to reach out.

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ENGIE and Meta announce 260 MW renewable energy agreement

HOUSTON – ENGIE North America (ENGIE) and Meta announced they recently completed an Environmental Attributes Purchase Agreement (EAPA) for ENGIE to supply 260 MW of renewable energy and associated environmental attributes from its Sypert Branch solar project in Milam County Texas to support Meta’s growing power needs in line with its net zero goals.

Meta will purchase 100% of the 260 MW facility’s output which is expected to commence operation in late 2025. Sypert Branch solar project was developed by ENGIE, who will also construct and operate the project located 70 miles northeast of Austin, Texas, and approximately 10 miles from Meta’s data center in Temple, TX.

“We are delighted to announce this agreement to work with Meta by providing renewable power that supports their growth and aligns with their net zero commitments,” said Dave Carroll, Chief Renewables Officer and SVP, ENGIE North America. “We are proud that ENGIE’s proven track record in developing, building and operating renewable assets puts us at the forefront of the energy transition and this agreement with Meta recognizes the importance of that track record to our customers.”
The 260 MW from Sypert Branch will add to the more than 12 GW of renewable energy procurement already announced by Meta.

“We are delighted to be collaborating with ENGIE to make the clean energy transition a reality through projects like Sypert Branch,” said Urvi Parekh, Head of Clean Energy, Meta. “Since 2020, we have maintained net zero emissions in our global operations – these efforts are supported by relationships such as those with ENGIE who can consistently deliver and operate projects like Sypert Branch to help meet our energy needs.”

The Sypert Branch project is expected to employ over 300 skilled workers during construction, many of them local to the region and generate more than $69 million in tax revenues to support the local community over the life of the project. This includes some $45 million specifically for two local school districts. Once operational it will add to the existing ENGIE portfolio of around 8 GW of renewable projects including solar, wind and battery storage in operation or construction across North America.
This power purchase agreement with Meta contributes to ENGIE closing almost 1 GW of signed PPAs in the U.S. for 2024 (YTD). ENGIE’s continued innovation in this space has resulted in the company being named as a top developer to sell corporate energy PPAs several years in a row.

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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 its 97,000 employees around the globe, clients, partners and stakeholders, the Group strives every day to accelerate the transition towards a carbon-neutral economy, through reduced energy consumption and more environmentally friendly solutions. Inspired by its purpose statement, 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 clients. In North America, ENGIE helps its 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

Meta
Ashley Settle
ashleysettle@meta.com
650-512-3565

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ENGIE announces Power Purchase Agreement with Google – Will supply power from its largest U.S. solar project to date

Latest deal builds on collaboration to accelerate the energy transition

HOUSTON – ENGIE North America (ENGIE) announced they recently completed a Power Purchase Agreement (PPA) with Google to supply 90 MW of renewable energy from its Chillingham solar project in Bell County, Texas. This agreement in the United States (U.S.) expands on ENGIE and Google’s prior collaborations in Europe and is the fifth renewable energy project under agreement between the two companies globally.    

To support its operations in Texas, Google will purchase a portion of the 350 MW facility’s output which is expected to commence operation later this year. The Chillingham solar project was developed by ENGIE, who will also construct and operate the project located north of Austin, Texas.

This agreement was facilitated through LEAP™ (LevelTen Energy’s Accelerated Process), which was co-developed by Google and LevelTen Energy to make sourcing and executing clean energy PPAs more efficient, and contributes to Google’s ambitious 2030 goal to run on 24/7 carbon-free energy (CFE) on every grid where it operates.

“We are honored to continue to expand ENGIE’s global relationship with Google, supporting their growth and delivery of their net-zero commitments” said Dave Carroll, Chief Renewables Officer, ENGIE North America “We are proud that ENGIE’s proven track record in developing, building and operating renewable assets puts us at the forefront of the energy transition. Chillingham solar clearly demonstrates ENGIE’s track record of consistently delivering quality renewables projects that meet the needs of customers such as Google – allowing us to collaborate together and meet their unique needs.”

“We’re pleased to further our collaboration with ENGIE with new carbon-free energy from its Chillingham plant that will supply our operations in Texas with clean power,” said Amanda Peterson Corio, Global Head of Data Center Energy, Google. “This agreement is another example of how using our scalable procurement approach is transforming the way the industry sells and purchases power, and ultimately speeds up the development of carbon free electricity.”

The Chillingham project has employed over 300 skilled workers during construction, many of them local to the region and will generate more than $72 million in tax revenues to support the local community over the life of the project. This includes some $53 million specifically for local school districts. Once operational, Chillingham, which will be ENGIE’s largest single solar project in the U.S. so far, will join the company’s portfolio of around 8 GW of renewable projects including solar, wind and battery storage in operation or construction across North America.

This power purchase agreement with Google contributes to ENGIE closing almost 1GW of signed PPAs in the U.S. for 2024 (YTD). ENGIE’s continued innovation in this space has resulted in the company being named as a top developer to sell corporate energy PPAs several years in a row.


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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 its 97,000 employees around the globe, clients, partners and stakeholders, the Group strives every day to accelerate the transition towards a carbon-neutral economy, through reduced energy consumption and more environmentally friendly solutions. Inspired by its purpose statement, 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 clients. In North America, ENGIE helps its 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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ENGIE among the top ranking world companies!

ENGIE in the top 50! The Group lies in 46th place in the World’s Best Companies 2024 ranking published by Time magazine and Statista. What’s more, in France the Group is in the top 5.

Published by the American weekly magazine Time in partnership with Statista, a leading international provider of market and consumer data and rankings, the World’s Best Companies 2024 ranking evaluates the world’s 1,000 top performing companies according to three key criteria: employee satisfaction, revenue growth and sustainability performance (ESG criteria).

ENGIE stands out this year, ranking 46th worldwide, compared with 57th place last year. This improvement is largely due to the growth rate of the company, reflecting its ability to innovate and to adapt in a constantly changing sector.

In France, ENGIE has climbed to 5th place, in particular thanks to its Net Promoter Score (NPS), an indicator that measures overall positive customer and employee perception of the company.

This good score illustrates the Group’s commitment to providing a caring and inclusive working environment as well as its social model which reconciles economic performance with a positive impact on people and the planet.

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ENGIE enters a partnership with Ares Management for a 2.7 GW portfolio of Renewables and Storage Assets in the U.S.

HOUSTON, Sept. 12, 2024 (GLOBE NEWSWIRE) — ENGIE North America (ENGIE) announced that it recently closed a partnership with Ares Management Infrastructure Opportunities funds (Ares). This transaction represents the largest operating portfolio sell down for ENGIE in the U.S. and is one of the largest sales completed in the renewables sector based on total capacity. ENGIE will retain a controlling share in the portfolio and will continue to operate and manage the assets.

The overall 2.7 GW portfolio consists of 15 projects in operation across ERCOT, MISO, PJM and SPP, of which 53% is solar, 25% wind and 22% co-located battery storage capacity.

“We are delighted that ENGIE and Ares will be partners in such a large-scale renewables and co-located storage portfolio to further accelerate the energy transition towards a net zero future,” said Dave Carroll, Chief Renewables Officer, ENGIE North America. “The investment by Ares reflects ENGIE’s proven and recognized track record in developing, building, operating and financing renewable assets, both in North America and globally”.

ENGIE is a leader in the net zero energy transition and currently has more than 8 GW of renewable production in operation or construction across the U.S. and Canada. Globally, ENGIE has an aspiration to add 4 GW per year through 2025, with North America as a material contributor to that growth. This transaction supports ENGIE’s strategy in North America by simultaneously recycling capital and adding a leading infrastructure investor to ENGIE’s select pool of partners.

“We are thrilled to be partnering with ENGIE, a global leader in clean energy, on this highly contracted, attractive portfolio,” said Steve Porto, Partner in Ares’ Infrastructure Opportunities strategy. “This partnership provides diversification across proven technology and geography at scale alongside a strong operator. We look forward to continuing to provide the capital and experience needed to support the energy transition and build-out of climate infrastructure.”

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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.

About Ares Management
Ares Management Corporation (NYSE:ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2024, Ares Management Corporation’s global platform had over $447 billion of assets under management, with more than 2,950 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.

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