Search

Engie and Edelweiss Infrastructure Yield Plus (EIYP) have announced a strategic partnership for the company’s solar assets in India. In line with both Engie’s and EIYP’s strategies, Engie has agreed to sell a 74 percent stake in 12 solar assets aggregating 813 MWp of operating capacity collectively to EIYP and Sekura Energy Limited, a portfolio company of EIYP. The completion of this transaction, subject to the usual conditions associated with this type of operation, is expected to occur during the first half of 2020 and will allow Engie to reduce its net debt by more than EUR 400 million. In India, as in many other countries, Engie uses all its engineering capabilities to design, finance and build renewable energy production capacity. Once this capacity is built, the firm partially disposes of its interest and retains the operation and maintenance of the asset. The value created by this Develop Build Share Operate (DBSO) strategy increases significantly the impact of solar and wind development potential in many countries. This transaction marks the beginning of an ambitious strategic partnership between Engie and EIYP, aiming to expand a growing solar platform. The firm will maintain its leading industrial role by remaining in charge of the development, construction and operation of present and future solar plants. Paulo Almirante, Engie executive vice-president and chief operating officer said “we are delighted to announce this strategic partnership with EIYP. This transaction allows us to accelerate the implementation of our strategic model in renewables, and to free up capital to keep up investing in the very dynamic Indian solar market.” The firm has been present and active in India for over 40 years and employs around 1,000 people in clean power generation (centralised and decentralised), engineering, and energy services. The Group’s renewable capacity in the country exceeds 1.5 GW following the commissioning of two wind projects in Tamil Nadu and Gujarat and solar projects in Punjab, Rajasthan, Uttar Pradesh, Telangana, Andhra Pradesh and Gujarat.

Engie SA is set to commence construction of its first onshore renewable energy projects in Ireland, consisting of three solar farms with a total capacity of 18 MWp located in Galway and Limerick. The construction contract has been awarded to Engie Astatine and TLI Group, with work slated to begin in January 2025 and completion expected in the latter half of 2025. These solar parks aim to generate enough electricity to power approximately 4,100 homes.This initiative is part of Engie's commitment to expanding its renewable energy footprint in Ireland, following a successful bid in the recent Renewable Energy Support Scheme (RESS) 3 auction for 60 MWp across six projects. Engie will establish community benefit funds for each solar park, contributing about EUR 34,000 (USD 36,000) annually to local communities. As of June 2024, Ireland boasts a total solar capacity of 1,185 MW, including 594 MW from utility-scale projects. How will Engie's solar projects impact local communities and Ireland's renewable energy landscape? Renewable Energy Supply: Engie's solar projects will significantly enhance the local renewable energy mix, contributing to Ireland's goal of achieving 70% of electricity from renewable sources by 2030. The integration of 18 MWp from these solar farms will help reduce reliance on fossil fuels and promote sustainable energy practices. Job Creation: The construction and ongoing maintenance of the solar farms will create job opportunities in the Galway and Limerick regions. This influx of employment, ranging from skilled labor in renewable energy technology to administrative roles, can provide a much-needed economic boost to local communities. Community Engagement: Engie is committed to engaging with local stakeholders throughout the project lifecycle. This can lead to increased community awareness about renewable energy benefits, fostering a more informed public regarding energy efficiency and sustainability. Community Benefit Funds: Each solar park’s community benefit fund, contributing around EUR 34,000 annually, will assist local initiatives and projects. This funding can be allocated to support schools, environmental programs, or local infrastructure improvements, enhancing community welfare. Promotion of Local Businesses: As construction and operation of the solar farms progress, there will likely be increased business for local companies in areas such as construction services, hospitality, and supply chain logistics. This stimulation can help local economies thrive. Environmental Impact: The development of these solar farms is expected to contribute to lower carbon emissions in the region. As more land is utilized for solar energy production, the environmental footprint of energy consumption in these areas will decrease, promoting cleaner air and a healthier ecosystem. Energy Independence: By increasing local renewable energy generation capacity, Engie’s projects will aid in improving energy independence for Ireland. This is crucial for enhancing energy security and stabilizing energy prices in the long run. Public Awareness and Education: The visibility of solar projects can raise public awareness about renewable energy technologies. Engie’s engagement efforts, possibly through workshops or educational programs, could empower residents with knowledge about the benefits and workings of solar energy systems. Contribution to National Targets: The projects will align with Ireland’s broader renewable energy targets as set out in national policy documents, reinforcing the government's commitment to reducing greenhouse gas emissions and transitioning to a low-carbon economy. Future Growth Potential: The successful execution of these projects by Engie could serve as a model for future renewable energy ventures in Ireland. This may encourage further investments and developments in solar energy, paving the way for additional projects and innovations. Potential for Renewable Energy Hybridization: The establishment of solar parks can lay the groundwork for implementing hybrid renewable energy systems, combining solar power with other energy sources, such as wind or storage technologies, to maximize efficiency and reliability in energy generation.

Engie Storage has formalized a much-discussed but little-practiced revenue stream for energy storage projects: wholesale market value-stacking. Under a new product offering, Engie won't just design, supply and operate energy storage plants for customers. The company will also pay developers upfront for dispatch rights to use their batteries in the ISO New England wholesale markets. This gives storage developers and their financiers an additional source of secure revenue, while shifting the tricky merchant risk onto Engie, which feels confident in handling it. This is not the first time energy storage has entered wholesale markets. Utility-scale batteries piled into PJM's frequency regulation market years ago, and at least one storage facility is diving into Texas' competitive ERCOT market. (Some storage technically participates in CAISO via California's Demand Response Auction Mechanism pilot, but that is, in fact, a pilot). What's different here is the containment of merchant risk, which scares off those financiers who are otherwise comfortable with storage investments at this point. In the past, developers built merchant battery plants, but that all but dried up when PJM's storage market cooled off. Major battery plants these days need solid, contracted revenue streams to line up financing; if they can sprinkle in a little merchant activity, that's great, but it's gravy. This means that the famous ability of storage to perform multiple tasks has not extended as far into the wholesale markets as is technically feasible. "Everybody’s been talking about this, but this is it," Engie Storage CEO Christopher Tilley told GTM. "This is real, and there’s real value-stacking that can significantly improve the economics of projects." Unpacking merchant risk requires certain competencies that Tilley's team has access to as part of French energy conglomerate Engie, with a trading desk and experience managing the full range of energy assets. Its recent acquisition of Genbright, which aggregates distributed energy devices for wholesale market participation, further expands the tool belt. Using those internal resources, Engie will take on the risk of projecting years' worth of future market earnings, then cut a check to the developer based on those calculations. For the developer — Engie's customer — this turns merchant risk into contracted revenue. The developer gets paid upfront, financiers don't have to worry about merchant risk messing with their payback, and Engie takes responsibility for dispatching the plant to make good on its predictions. This isn't just a theoretical announcement. Engie has a first customer in private equity firm Syncarpha Capital, which signed up for the full offering for six community solar plants paired with energy storage, totaling 19 megawatts/38 megawatt-hours. Those projects, expected online this year or next, will claim the Solar Massachusetts Renewable Target incentive and the federal Investment Tax Credit. On top of those two incentives, Engie is paying Syncarpha to use the batteries for the ISO New England markets for capacity, reserves and frequency regulation. Tilley declined to specify how lucrative the wholesale payments are, but said they represent "a substantial amount of money." In practice, this requires balancing several sets of compliance requirements and then pushing for additional revenue. "We’re essentially guaranteeing to everyone that we can operate the battery so it complies with the programs and the financial arrangements you have," Tilley said. "On top of that, you say, 'What can we do after that to stack additional revenues in the merchant market?'" So far, this offering only applies in ISO New England territory, which Tilley described as the most advanced at allowing storage to participate with multiple revenue streams. "The rules and the way to do it are established — you're able to do something today in ISO New England," Tilley said. "I don't know that we can say the same in a broad sense for the other [independent system operators]." It's not an accident that San Francisco-based Sunrun, the leading U.S. rooftop solar installer, won its first aggregated wholesale capacity contract in ISO New England rather than closer to home. Engie will expand the program elsewhere when possible, he added. The offering pairs well with the larger, utility-scale projects that have become a growth area for the company that started life as Green Charge Networks, a commercial-scale storage pioneer. But, Tilley noted, it could still be used to enlarge revenue for behind-the-meter, customer-sited batteries. Greentech Media readers may recognize New York-based Syncarpha from news earlier this month: The firm partnered with Stem for that company's first foray into utility-scale storage, also with a multisite portfolio in Massachusetts that will stack the ITC, SMART incentive and wholesale market participation. The risk management approach differs between the two portfolios: Syncarpha will own the Stem projects, taking on the merchant risk, whereas the Engie portfolio is financed, with Engie taking on the merchant risk.

Engie Chile has begun the assembly of a 68-MW/418-MWh battery energy storage system (BESS) at a former diesel power station in the northern part of Chile. The system, dubbed Tamaya BESS, will store electricity generated by Engie’s 114-MW Tamaya solar farm and feed it into the grid during peak demand hours. The project has been designed by China’s Sungrow Power Supply Co Ltd and is expected to reduce emissions by 42,187 tonnes of CO2 per year. It is part of Engie Chile’s energy transformation plan to convert part of the land used by traditional power plants for renewable energy generation. What Benefits Does Engie Chile's Tamaya BESS Bring? Tamaya BESS is the largest battery energy storage system in Chile. The system will store and deliver energy more reliably and efficiently than traditional power stations. The system will enable Engie to reduce the costs of generation and energy supply by supporting more renewable energy sources. Tamaya BESS will help reduce greenhouse gas emissions by replacing traditional diesel generation with clean energy. The system will also help to improve power security and reliability in the region. By providing a reliable supply of energy, Tamaya BESS will help to support the growth of businesses, creating new jobs in the local economy.

electrical utility company Engie has actually revealed that it has actually totally appointed its 250 MW solar project in Andhra Pradesh. The 200 MW stage

the initial phase, Yuri will generate up to 640 tonnes of hydrogen each year, Engie claimed. The Australian Renewable Resource Agency (ARENA) and the Western

(NASDAQ: AAPL) signed a 10-year power purchase agreement with Engie (EPA: ENGI) to source electricity from 173 MW of new wind and solar projects in Italy.

at the site of the 22MW Volgelsheim solar project in France, being created by Engie. The Volgelsheim project, in the Haut-Rhin region which surrounds

the business said. Tamaya is one of several renewable resource projects that Engie Chile began as part of its prep work to leave coal-fired power generation by

(BESS), Guam Power Authority has actually chosen to cancel the tender after Engie claimed the project would not be viable if constructed in today's market

Engie Storage will supply and operate a 19 MW / 38 MWh portfolio of six energy storage sites that will contribute to the Solar Massachusetts Renewable Target Program and be active in ISO-New England wholesale markets. This combined solar and storage pipeline, which is developed and operated by New York-based private equity firm Syncarpha Capital, is the first utility-scale solar plus storage offering to benefit from Engie’s new integrated development, supply and services offering for wholesale market integration.  Engie Storage will provide Syncarpha with a complete, turn-key GridSynergy hardware and software solution, and will operate the storage system for 20 years. In addition, a Market Participation Agreement signed for each of the six storage sites will see Engie Storage pay fees in exchange for the rights to operate the solar and energy storage system in the ISO-NE wholesale capacity, reserves, and frequency regulation markets.

Engie The United States and Canada has actually introduced it has acquired a 6-GW portfolio of solar, combined and standalone battery storage advancement projects from Belltown Power US. The purchase consists of 33 projects making up some 2.7 GW of Solar with 0.7 GW of paired storage and 2.6 GW of stand-alone battery storage. Belltown Power checks into the greenfield advancement of solar PV and energy storage projects. The official statement of Engie held that the renewable energy projects lie across ERCOT, PJM, MISO and also WECC1- the utilities and grid drivers across the U.S.A.. Engie claims to already have a strong position in The United States and Canada. The business stated that it has 3.9 GW of installed renewable capacity at 100% since June 30, 2022. The projects are a strong addition to Engie's existing renewables and also storage pipe in the united state " These projects are a tremendous enhancement to our existing renewables pipeline and also will aid to further increase Engie's role in the energy transition. The mix of solar, paired and also stand-alone storage across a wide set of geographies both complements our existing portfolio as well as gives possibilities for growth right into brand-new areas in the United States. The 3.3 GW of battery storage projects will be a vital enabler of flexibility as well as supports the balance of the grid to enhance its reliability and also resilience," claimed Dave Carroll, Principal Renewables Officer and Head of Engie North America. Hernan Farace, the CEO of Belltown Power U.S., specified, "We are really proud of having actually finished this transaction with Engie, which marks one more excellent milestone in the journey of Belltown as a greenfield programmer. The Engie team is very well-informed and has the breadth as well as depth of know-how to bring these projects right into procedures. Our team believe our projects are in outstanding hands as well as anticipate the ribbon cutting events at each of these sites." Engie is likewise aiming to acquire European RE business Asterion Energies in partnership with Spanish energy company Repsol. Asterion also has an anticipated combined capacity of 6 GW.

Engie Brasil acquired the plants from Engie Solar SAS, Solairedirect Investment Management SA as well as Drankensberg Capital 1 SA for BRL 625 million (USD 122.6 m/EUR 110.9 m) in total. The customer likewise took control of an internet debt of approximately BRL 620 million gotten with the Brazilian Development Bank (BNDES), according to the statement. The purchase made Engie Brasil the owner of the 158.3-MWp Paracatu and also the 101.5-MWp Floresta plants. Paracatu has actually been in operation because February 2019 and also gain from a 20-year sales arrangement for 34 typical megawatts (MWa) of its outcome. The 101.5 MWp Floresta solar farm, operational given that December 2017, has a 20-year contract for 25.1 MWa in position.

Fargo and InfraRed Capital Partners among others took part in the financing. Engie North America has revealed that the business has effectively completed

Romania will utilize all energy generated in the park developed by Engie for its own requirements, the two business stated in a joint press