ENGIE Expands US Solar and Storage Portfolio with Ares Partnership

Deal News | Apr 16, 2025 | Orrick

ENGIE North America, a key player in the energy transition sector, has strengthened its partnership with Ares Management by incorporating nearly 1 GW of solar and storage assets into its U.S. portfolio. ENGIE will keep a controlling stake in the assets and continue operations. This strategic expansion is aligned with ENGIE's vision to drive decarbonization, reflecting a robust asset portfolio and operational prowess in the U.S. energy market. The enhanced partnership illustrates ENGIE and Ares' dedication to meeting rising energy demands while advancing renewable energy solutions.

Sectors

Renewable Energy
Infrastructure Investment

Geography

United States – The article focuses on the expansion of ENGIE's solar and storage assets in the U.S., indicating the geographical relevance.
North America – ENGIE North America's operations and strategic investment efforts are emphasized in the article, covering the broader region of North America.

Industry

Renewable Energy – This industry classification is relevant as the article discusses the addition of solar and storage assets, which are integral to renewable energy initiatives.
Infrastructure Investment – Relevant due to Ares Management's role as an infrastructure investor involved in expanding the renewable energy portfolio.

Financials

$10 billion – Annual investment by ENGIE globally to advance the energy transition and achieve its net zero carbon goal by 2045.

Participants

Name	Role	Type	Description
ENGIE North America	Target Company	Company	A division of the ENGIE Group focused on accelerating the energy transition through renewable energy investments.
Ares Management	Investment Partner	Company	An infrastructure investment firm collaborating with ENGIE to expand renewable energy assets.
Orrick	Legal Advisor	Company	The legal firm advising ENGIE on its partnership expansion with Ares Management.
Dave Carroll	Chief Renewables Officer and SVP	Person	An executive at ENGIE North America, involved in strategic renewable energy investment decisions.