#United States #Renewable Energy #Houston #ENGIE North America #Ares Management

ENGIE and Ares Partnership Growth: A New Era for Renewable Energy

ENGIE North America has recently announced a significant enhancement of its partnership with Ares Infrastructure Opportunities funds, marked by the addition of a new 730 MW portfolio comprised of wind and solar assets. This expansion not only underscores the dynamic partnership between ENGIE and Ares but also represents a critical step toward accelerating the U.S.’s transition to clean energy, catering to the growing demand for power across the nation.

Overview of the New Portfolio

The newly added portfolio features a variety of renewable energy projects that span across Texas, specifically within the ERCOT (Electric Reliability Council of Texas) region. This includes one wind project and two solar facilities that are already operational. By retaining a controlling share in this portfolio, ENGIE will continue to manage and operate these assets effectively, ensuring that they contribute to a sustainable and green environment.

The Significance of This Expansion

According to Dave Carroll, the CEO and Chief Renewables Officer of ENGIE North America, this expansion reflects the strength and potential of ENGIE's assets. He noted, "The continued growth of our relationship with Ares signifies our commitment to meeting the substantial power demands in the U.S., showcasing our resilience in enhancing our renewable energy footprint despite varying challenges in the industry."

In a landscape that prioritizes sustainability, ENGIE aims to consolidate its role as a leading developer in the realm of renewable energy, with over 11 GW of renewable generation and energy storage projects currently in operation or under development across the United States and Canada. With an ambitious global target of reaching 95 GW by 2030, ENGIE is actively pursuing strategies to deepen its investments in North America.

A Committed Partnership

Ares Management has recognized ENGIE as an exceptional partner for their infrastructure investment aspirations. In the words of Steve Porto, Partner at Ares, "ENGIE has been an exceptional partner in our efforts to invest in high-quality infrastructure assets across attractive U.S. markets. The latest portfolio acquisition is a testament to the strength of our collaborative relationship."

The synergy between these two entities encourages a collaborative spirit in driving forward the energy transition and fostering a carbon-neutral economy.

ENGIE's Global Impact

Globally, ENGIE stands as a major player in the energy transition with 52.7 GW of renewable projects in operation. ENGIE invests over $10 billion annually to further its mission and has set a goal to achieve net-zero carbon emissions by 2045. The company’s diverse range of services covering renewable electricity, green gas production, and energy supplies aligns seamlessly with its sustainable objectives.

Future Directions

As ENGIE advances its operational framework, it becomes evident that the collaboration with Ares not only enhances its market position but also promotes sustainable development in the energy sector. By intervening decisively in infrastructure investments, both companies are contributing to a brighter, more sustainable future for energy in the U.S.

Highly regarded for its environmentally responsible investment strategies, Ares Management Corporation, listed on the NYSE, oversees over $595 billion in assets, reflecting a commitment to creating long-term value for stakeholders. The ongoing partnership with ENGIE exemplifies this belief, allowing both entities to redirect capital toward enhancing renewable capacity and addressing energy needs efficiently.

In conclusion, the new addition of the 730 MW renewable energy portfolio symbolizes a promising future for ENGIE and Ares, as they collectively lead the charge toward a more sustainable and energy-efficient world.