ENGIE North America partners with CBRE Investment Management to manage a 2.4 GW portfolio of battery storage assets in Texas and California.

Information on the Target

ENGIE North America has announced a significant partnership with funds managed by CBRE Investment Management to collaborate on a portfolio of battery storage assets located in Texas and California. This agreement reflects one of ENGIE’s most substantial operating portfolio partnerships in the United States and is recognized as one of the largest transactions completed in the battery storage sector to date. ENGIE will maintain a controlling interest in these assets while continuing to manage their operations.

The portfolio encompasses a total of 2.4 gigawatts (GW) and includes 31 operational projects situated across the Electric Reliability Council of Texas (ERCOT) and California Independent System Operator (CAISO) jurisdictions. This collaboration underscores ENGIE's commitment to meeting the rising energy demands in these key markets.

Industry Overview in the Target's Specific Country

The battery storage industry in the United States has experienced remarkable growth, driven by the increasing demand for renewable energy and the need for reliable energy storage solutions. In states like Texas and California, the reliance on renewable energy