Engie and CBRE Investment Management Join Forces on Significant Battery Storage Deal in Texas and California
Engie and CBRE Investment Management have joined forces in a significant deal involving a 2.4 Gigawatt portfolio of battery storage assets located in Texas (ERCOT) and California (CAISO). This collaboration sees CBRE making a substantial investment, while Engie maintains a controlling interest in the 31 projects. Notably, all of these assets are already operational, actively contributing to power generation. The portfolio represents a considerable expansion of Engie's presence in the US energy storage market, complementing their existing North American footprint which includes over 11 GW of renewable energy production and battery storage currently in operation or under construction. The partnership underscores growing confidence in the renewable energy sector and highlights the increasing importance of battery storage for grid stability, particularly as more variable renewable energy sources, such as solar and wind, are integrated into the electrical grid. Engie North America’s Michael Clingan and CBRE Investment Management’s Josh Stoffregen-Foye are available for further inquiries.
