ENGIE North America is acquiring Chicago’s SoCore Energy, a developer, owner and operator of municipal/co-op solar, community solar, and commercial and industrial (C&I) solar projects in the US.
The acquisition includes 150 MW of solar assets in operation or under construction by March 31, 170 MW of solar projects in late-stage development, as well as projects combining battery storage elements.
SoCore’s capabilities span project origination and development, engineering, project financing, procurement, project management, and operations management.
Municipalities, utilities, and corporations in the US are increasingly seeking clean energy sources of power, both utility-scale and decentralised, as well as services to run their facilities more reliably and efficiently with fewer carbon emissions and lower costs.
ENGIE has been working to expand its offerings in North America to address these needs. SoCore will be a key piece of ENGIE’s solution set for current and future customers.
ENGIE intends to retain SoCore’s personnel and Chicago-based headquarters.
The combined team will be working together to complete development and construction of the late-stage SoCore portfolio, and will continue to own and operate those projects following commercial operation to support the increasing demand in the US for renewable energy and more broadly the United States’ transition to a cleaner electrical system.