ENGIE Teams Up With Ares Management To Add Nearly 1 GW Of Solar and Storage Projects Across The U.S.

ENGIE North America has strengthened its partnership with Ares Management Infrastructure Opportunities funds (Ares) by adding a new portfolio of nearly 1 gigawatt (GW) of renewable energy projects. As part of this expansion, ENGIE will retain a controlling interest in the portfolio and will continue to operate and manage the assets. The portfolio comprises 0.9 GW of capacity, including three operational solar projects located across the Electric Reliability Council of Texas (ERCOT) and Midcontinent Independent System Operator (MISO) regions, along with one co-located battery storage project in ERCOT.

Dave Carroll, Chief Renewables Officer and SVP, ENGIE North America, stated, “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. 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.”

Steve Porto, Partner in Ares’ Infrastructure Opportunities strategy, mentioned, “We are excited to be expanding our relationship with ENGIE through this latest transaction. 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.”

As a global leader in the energy transition, ENGIE currently has over 11 GW of renewable energy projects either in operation or under construction across the U.S. and Canada. Worldwide, the company operates 51 GW of renewable energy and storage capacity, with ambitious plans to reach 95 GW by 2030. This latest transaction aligns with ENGIE’s long-term strategy to deepen its presence in North America by reinforcing partnerships with leading infrastructure investors like Ares. Additionally, it allows ENGIE to recycle capital, supporting the ongoing expansion of renewable energy generation to meet the growing demand for power in the U.S.