ENGIE announces today its acquisition of an 80 percent stake in Green Charge Networks (Green Charge), an industry-leading battery storage company based in California. Terms of the deal were not disclosed.
Green Charge, utilizing its advanced patented software algorithms and analytics, deploys, owns, operates, and optimizes battery systems at commercial & industrial (C&I) and public sector customer sites in the United States.
With offices in Santa Clara, New York and San Diego, Green Charge has developed a portfolio of 48 MWh of battery storage projects either deployed or under construction across more than 150 sites. To date, the company has helped customers across the country to reduce their electric bills up to 30 percent while providing stability to the grid.
Green Charge will benefit from the support of a larger family of ENGIE businesses in North America, which span the continent, providing 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.
Isabelle Kocher, Chief Executive Officer of ENGIE, stated:
“With Green Charge, ENGIE immediately gains a strong position in the growing battery storage market in the U.S. and further develops its offering of load management solutions at customer sites. The company’s “stand-alone battery” and “solar + battery” solutions complement our existing offers. In the U.S., ENGIE has developed a large, customer base across all 50 states. Together with Green Charge, we are able to offer an even greater range of leading-edge solutions for commercial, industrial, and public sector customers. This acquisition will also reinforce ENGIE’s strengths and skills in the activities of decentralized energy management, off-grid solutions and power reliability, which are identified as areas for growth for the Group around the world”.