ENGIE's Broad Reach Buy Broadens BESS Buildout in Texas

ENGIE's Broad Reach Buy Broadens BESS Buildout in Texas


Attachment: ENGIE-BroadReach 0823

Researched by Industrial Info Resources (Sugar Land, Texas)--ENGIE S.A.'s (Paris, France) North American subsidiary agreed earlier this week to acquire energy-storage company Broad Reach Power LLC (Houston, Texas) from Apollo Global Management (APO) and EnCap Investments (Houston) for $1.6 billion. ENGIE will pick up 350 megawatts (MW) of operational, grid-scale battery assets, as well as 880 MW under construction with commissioning expected before 2025, mostly in the Electric Reliability Council of Texas (ERCOT) service area.

Industrial Info is tracking more than $8.6 billion worth of active and proposed projects from Broad Reach, more than 80% of which is in Texas. More than $1 billion worth of projects from Broad Reach are nearing or under construction in the ERCOT area, including three battery energy-storage systems (BESS) exceeding 200 MW in capacity.

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