ENGIE strikes deal to sell 49% equity stake of US renewables portfolio

ENGIE strikes deal to sell 49% equity stake of US renewables portfolio

French utility ENGIE has inked an agreement to sell a 49% equity stake of its 2.3GW US renewables portfolio to the US climate change solutions investor Hannon Armstrong.

The energy giant says it will keep the majority share and continue to manage the assets – the collective includes 1.8GW of onshore wind and 500MW of solar photovoltaic (PV) projects.

The new partnership will see Hannon Armstrong take immediate ownership of 49% of 663MW of commissioned wind projects with the remaining 1.6GW of projects, currently under construction, scheduled to be transferred into the partnership, once finished.

Gwenaëlle Avice-Huet, Executive Vice-President responsible for ENGIE Renewable business line and CEO of ENGIE North America, said: “The US is a key growth market for our renewables business, where we have a strong pipeline of opportunities and solid development and operational platform to grow from.”

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