Financial details about the acquisition were not disclosed. With the acquisition, Engie will now own more than 8GW of projects in various stages of development. Engie says that the acquisition will help in clean energy solutions of both utility-scale and decentralized scale to its customers.
The California-based Infinity Renewables along with its funding partner MAP Renewable Energy has completed and sold nearly a dozen projects, totalling 1.6GW, which are now in commercial operations.
Engie intends to retain the entire staff of Infinity Renewables, including its principals who established the company in 2008. The combined team of Engie and Infinity will work together in the development and construction of Infinity’s portfolio and will continue to own and operate those projects, after they begin commercial operations.
The Infinity Renewables team will join Engie’s North American businesses, which has a significant presence in Canada with 700MW of operating wind power capacity and 2GW of wind projects in various stages of development.
Engie North America president and CEO Frank Demaille said: “With Infinity Renewables, ENGIE is investing in an experienced, accomplished development team, and we look forward to working with this team to accelerate the expansion of our renewables presence within the United States.
“By adding more wind energy to our other retail, solar, and biomass offerings in the U.S., we can meet customers’ renewable energy procurement goals much more comprehensively than before.”
In January, Engie had agreed to acquire a controlling stake of a little over 50% in Electro Power Systems (EPS), a France-based provider of hybrid energy storage systems and microgrids.
EPS has a team of around 90 in its research and development centre and industrial facilities in Italy. It has executed 36 projects in 21 countries. These include off-grid hybrid systems and microgrids powered by renewables and energy storage with a gross capacity of 47MWh.
