ENGIE acquires Broad Reach Power
August 28, 2023
ENGIE has signed an agreement for the acquisition of Broad Reach Power, a Houston-based company specializing in battery storage.
The acquisition supports ENGIE’s goal of having 10 GW of battery capacity globally by 2030.
The transaction includes 350MW of operating assets, 880MW under-construction assets with a commissioning expected before the end of 2024, 1.7GW of advanced stage projects, and a significant pipeline of early-stage projects.
This will also strengthen ENGIE’s position as a leader in the energy transition in the US, where the group already has significant positions through its renewable assets, battery storage and its energy management platform.
Completion of the transaction is expected by Q4 2023.