ENGIE Buys Majority Stake In Green Charge Networks

Posted by Joseph Bebon on May 11, 2016 No Comments
Categories : New & Noteworthy

It appears large French energy companies are out to expand into the growing energy storage business: Just days after oil giant TOTAL announced plans to acquire battery company Saft, ENGIE has announced its own new acquisition in the sector.

ENGIE, previously known as GDF SUEZ, has acquired an 80% stake in Green Charge Networks, a battery energy storage company based in Santa Clara, Calif. Terms of the deal were not disclosed.

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 across the U.S.. According to the companies, 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 deliveries, retail energy sales to homes and businesses, and services to enhance energy efficiency.

“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,” says Frank Demaille, president and CEO of the North American business unit of ENGIE. “The company’s stand-alone battery and solar + battery solutions complement our existing offer.”

In the U.S., ENGIE offers a variety of energy efficiency, demand response and renewable solutions to commercial and industrial customers. Recently, the company invested in energy management solutions from companies such as Colorado-based Tendril, and earlier this year, it acquired OpTerra Energy Services.

Vic Shao, CEO of Green Charge, comments, “By working with ENGIE, Green Charge looks forward both to continued growth in California, as well as expansion across the U.S. and internationally.”

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