Engie to acquire Texas-based power storage firm Broad Reach Power
Reuters
Published Aug 24, 2023 07:27
(Reuters) - France's Engie on Thursday said it is acquiring full ownership of Broad Reach Power, a power storage company based in Houston, Texas, as it seeks to expand its global battery infrastructure.
The deal signed with private equity firms EnCap and Apollo involves the purchase of operating assets with a capacity of 350 megawatt while projects equivalent to 880 megawatt are currently under construction and another 1.7 gigawatt in advanced project stage, Engie said.
The transaction is expected to be completed by the fourth quarter of this year. Financials were not disclosed.
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Written By: Reuters
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