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Engie’s 230MW Bernard Creek Solar Project in Texas. Image: Engie North America
Engie North America– a local subsidiary of French energy utility Engie– has actually closed US$ 1 billion in tax equity funding to support a 1.3 GW portfolio of solar PV and wind possessions throughout the United States.
The portfolio includes 6 tasks; 950MW of solar PV and 353MW of wind capability, spread out throughout the Electric Reliability Council of Texas (ERCOT), Midcontinent Independent System Operator (MISO) and Southwest Power Pool (SPP) affiliation markets. All of the jobs have actually been just recently commissioned, Engie stated.
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They represent the biggest tax equity plan offer signed by Engie North America to date. The funding is structured in 3 different offers, with United States banks JP Morgan and Goldman Sachs and France-based monetary services business BNP Paribas.
Engie has a variety of operations in the ERCOT market, which runs most of Texas’ grid. Last November the business signed 2 virtual power purchase arrangements (VPPA) with paper manufacturer WestRock for the Bernard Creek and Chillingham PV tasks, both linked to the ERCOT system.
Previously this month Engie tattooed a Tax Credit Transfer Agreement (TCTA) with French energy company Schneider Electric for a Texas solar-plus-storage job portfolio. Information of the tasks in this were not defined however were anticipated to be commissioned this year.
The MISO network, on the other hand, covers 15 states in the main United States and has actually seen a boost in solar PV releases of late. Solar designer Adapture Renewables purchased a 450MW portfolio of MISO-connected jobs in late 2023. Previously this month, Adapture purchased another 333MW MISO solar portfolio from Japanese corporation Itochu.
In overall, the business declares to have more than 7GW of renewable resource generation capability either in advancement or functional throughout the United States and Canada.
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