Engie strikes deal to sell 49% equity stake in US renewables portfolio

Facebook
Twitter
LinkedIn
Reddit
Email
Image: Engie.

French utility Engie has agreed to sell a minority 49% stake in a US-based renewables portfolio containing 500MW of utility-scale solar.

Engie revealed today that it had penned a deal to sell a 49% equity interest in a 2.3GW portfolio of projects to renewables investor Hannon Armstrong.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The portfolio is yet to be fully commissioned, but upon completion Engie said it will represent a “major milestone” in the company’s target of commissioning 9GW of additional renewables by the end of next year.

Hannon Armstrong will take immediate ownership of a 49% stake in 663MW of commissioned wind projects, with the remaining 1.6GW of projects due to be transferred upon completion. This projects are described as remaining under construction.

The solar contingent of the portfolio comprises four specific projects. Engie has not identified the projects specifically, but has disclosed that the entire portfolio includes generators in key US markets such as the Electric Reliability Council of Texas (ERCOT), the Midcontinent Independent System Operator (MISO), PJM interconnection and the Southwest Power Pool.

Earlier this year the utility secured US$1.6 billion in tax equity commitments for the portfolio, described at the time as the largest ever in the US. Engie has indeed identified the US as one of its key growth markets amidst an expansion and reorganisation which, following former chief executive Isabelle Kocher’s ousting earlier this year, has been up in the air.

Hannon Armstrong invests in various clean energy-focused sectors, including both behind-the-meter and grid-connected renewables, as well as sustainable infrastructure. It lays claim to having 4,000 acres land and lease streams which underpin dozens of utility-scale projects with a combined capacity of nearly 700MW in its portfolio, while also having invested around US$120 million in C&I, community and residential solar systems to date.

“We have a shared mission to accelerate to the rapid adoption of climate change solutions, and we are pleased to partner with Engie once again to that end. This investment adds significant scale and diversity to our portfolio,” Jeffrey W. Eckel, chairman and CEO at Hannon Armstrong, said.

21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth 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 2027 and beyond.

Read Next

October 8, 2025
US solar module prices jumped in Q3 2025 as developers scrambled to meet the 2 September 2025 safe harbour deadline for Investment Tax Credit (ITC) qualification, according to supply chain platform Anza.
October 8, 2025
Despite policy headwinds on the federal level, there is optimism for the future of the US solar and storage sector.
October 8, 2025
Officials from Norway and Egypt have agreed provisional terms for the financing of the Dandara solar park in Egypt, which is being built and operated by Norwegian IPP Scatec.
October 7, 2025
Solar PV will account for almost 80% of the 4.6TW of new renewable power expected to be added by 2030, according to the International Energy Agency (IEA).
October 7, 2025
OpenSolar has secured US$13.1 million in equity financing from technology investors, including Titanium Ventures, Google and others.
October 7, 2025
Doral Renewables has secured a PPA with an unnamed 'corporate buyer' for its 430MW Cold Creek solar-plus-storage project in Texas.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK