ENGIE acquiring Broad Reach Power’s battery storage business
Grid Scale

ENGIE acquiring Broad Reach Power’s battery storage business

French multinational utility ENGIE has agreed to buy the battery storage business of Houston-based Broad Reach Power from its co-investment partners Yorktown Partners, Mercuria Energy, and Appollo Infrastructure Funds.

The total equity value of the transaction, which includes 350 MW of grid-scale battery assets in operation and 880 MW under construction, is expected to exceed $1 billion. A majority of the portfolio is located in ERCOT. The acquisition also includes a 1.7 GW pipeline of battery storage projects at an advanced stage of development and a significant pipeline of early-stage projects.

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The transaction does not include the company’s portfolio of 1.8 GW of solar and wind power projects together with 4 GWh of battery storage in the Mountain West region of the U.S.

Founded in 2019 with backing from EnCap Energy Transition, Broad Roach Power sold a 50% stake in the company to Apollo Funds in Dec. 2021.