Engie’s $1 B for 1.3 GW US renewables portfolio
The portfolio consists of six projects.
Image for illustration purposes.
USA: Engie North America, a regional subsidiary of French energy utility Engie, has closed $1 billion in tax equity financing to support a 1.3 GW portfolio of solar PV and wind assets across the US. The portfolio consists of six projects, 950 MW of solar PV and 353 MW of wind capacity, spread across the Electric Reliability Council of Texas (ERCOT), Midcontinent Independent System Operator (MISO) and Southwest Power Pool (SPP) interconnection markets.
The projects have been recently commissioned and represent the largest tax equity arrangement deal signed by the company, with financing structured in three separate deals, with US banks JP Morgan and Goldman Sachs and France-based financial services company BNP Paribas.
Engie has several operations in the ERCOT market, which operates most of the Texas grid, while the MISO network spreads over 15 states in the central US and has seen an increase in solar PV deployments of late. The company claims to have over 7 GW of renewable energy generation capacity in development or operational across North America.
Source: PV Tech
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