Engie closes investment with Goldman Sachs for 75MW of PV projects

Facebook
Twitter
LinkedIn
Reddit
Email
This financing will help deploy up to 75MW of distributed solar and distributed solar plus battery systems across multiple states in the US.

ENGIE North America’s Distributed Solar team has closed on an investment from Goldman Sachs’ Alternative Energy Investing Group into a partnership that is managed by ENGIE.

Due to this financing structure, the partnership will be able to deploy up to 75MW of distributed solar and distributed solar plus battery systems across multiple states in the US, including California, Nevada, Minnesota, Illinois, Texas, New York, New Jersey, and Massachusetts.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

ENGIE will retain an ownership interest in the PV portfolio, and will construct, manage, and operate the assets.

The pipeline of projects feature behind-the-meter installations that will provide power to commercial and municipal customers, along with small-scale front-of-the-meter projects with rural electric cooperatives under previously signed long-term PPAs. 

Goldman Sach’s investment will be deployed over a period of twelve months, while some projects will begin providing power to its customers through these PPAs immediately.

Daniela Shapiro, head of finance for distributed solar at ENGIE North America, said: “We are delighted to have finalized this structure with Goldman Sachs’ Alternative Energy Investing Group to bring increasing amounts of renewable, reliable, and cost-effective energy to business and communities across the United States.

“Our collaboration brings together two leading players in the energy and financing space to really help accelerate access to renewable energy and battery storage at the distributed scale. By working with such a financing partner, we were able to package and simplify the process which brings benefits to everyone involved.”

21 May 2024
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 21-22 May 2024, will be our third PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2025 and beyond.
8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 10, 2024
Dallas, Texas USA
Solar Media Events
April 17, 2024
Lisbon, Portugal
Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Napa, USA