Engie buys 80% of US energy storage specialist Green Charge Networks

May 11 (SeeNews) – French gas and electricity supplier Engie SA (EPA:GSZ) said on Tuesday it had acquired 80% of California-based energy storage systems provider Green Charge Networks LLC.

The buyer did not disclose any terms of the deal.

Green Charge operates battery systems at commercial and industrial (C&I) and public sector customer sites in the United States. The company has developed 48 MWh of energy storage projects across more than 150 sites in the country.

Engie’s businesses in North America include renewable and natural gas-fired power production, natural gas and liquefied natural gas (LNG) deliveries, retail energy sales to homes and businesses, and services to enhance energy efficiency.

The acquisition gives the French group a strong position in the growing battery storage market in the United States, chief executive Isabelle Kocher said. The transaction is also expected to further develop Engie’s expertise in the fields of decentralised energy management, off-grid solutions and power reliability, “which are identified as areas for growth for the group around the world,” the executive added.

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