Engie acquires large solar-plus-storage portfolio in Massachusetts

Energy storage system. Source: Engie Storage

September 24 (Renewables Now) - The North American subsidiary of French energy group Engie SA (EPA:ENGI) has bought a portfolio of assets in the US state of Massachusetts that includes 25 MW of solar capacity and 22 MWh of energy storage.

Engie North America said in a statement that this is the first of several solar-plus-storage portfolios it will build, own and operate in Massachusetts under the Solar Massachusetts Renewable Target (SMART) programme.

The acquired portfolio includes four projects that should become operational by the third quarter of next year. Engie Storage Services NA LLC will operate the batteries for 20 years, using the GridSynergy software platform to ensure Investment Tax Credit (ITC) and SMART programme compliance. The company plans to participate in ISO New England wholesale markets.

In late July, Engie Storage launched a new supply and services offering for developers of in-front-of-the-meter (IFOM) solar and energy storage projects in New England, as well as in emerging markets.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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