ENGIE acquires an 80 percent stake in Green Charge Networks

ENGIE has acquired an 80 percent stake in leading battery storage company, the Green Charge Networks. 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 US. Both the company did not reveal terms of the deal.

Green Charge has developed a portfolio of 48 MWh of battery storage projects either deployed or under construction across more than 150 sites. 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.

“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,” said 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 has developed a large customer base across all 50 states. Together with Green Charge, we’re 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 company around the world.”

“By working with ENGIE, Green Charge looks forward both to continued growth in California as well as expansion across the U.S. and internationally,” said Vic Shao, CEO of Green Charge. “ENGIE’s long-term financial and commercial support presents an opportunity to scale our business to a completely new level.”

ENGIE in US offers a variety of energy efficiency, customized demand response, and renewable solutions to commercial and industrial customers, allowing them to optimize their load requirements and energy-related costs. Recently, the Group has invested in energy management solutions from companies such as Tendril, a Colorado-based company working on reinventing Energy Service Management.