By acquiring Broad Reach Power, a Houston-based company specialized in battery storage, ENGIE takes a major step towards its objective of reaching 10 GW of battery capacity within the Group by 2030 to support the development of renewable energies.
For Catherine MacGregor, Chief Executive Officer of ENGIE: "This acquisition is fully in line with ENGIE's strategy: it will contribute to the development of a low-carbon, affordable and resilient energy system where flexible assets will play a critical role alongside renewables.”
In addition, the acquisition will strengthen ENGIE's position as a leader in the energy transition in the United States, where the group already has significant positions through its renewable assets (5GW in operation at the end of 2022), battery storage and its energy management platform. The development of these projects will respond to the strong need for flexibility generated by the growth of the share of renewable energies in the energy mix and will increase ENGIE capacity to provide 24/7 decarbonized electricity to his customers.
