M&A Deal Summary

ENGIE Acquires Broad Reach Power

On August 24, 2023, ENGIE acquired renewable energy company Broad Reach Power

Acquisition Highlights
  • This is ENGIE’s 11th transaction in the Renewable Energy sector.
  • This is ENGIE’s 10th transaction in the United States.
  • This is ENGIE’s 1st transaction in Texas.

M&A Deal Summary
Date 2023-08-24
Target Broad Reach Power
Sector Renewable Energy
Buyer(s) ENGIE
Deal Type Add-on Acquisition

Target

Broad Reach Power

Houston, Texas, United States
Broad Reach Power is a utility-scale storage independent power producer (IPP). Broad Reach Power owns a 16-gigawatt portfolio of utility-scale solar and energy storage power projects in Montana, California, Wyoming, Utah, and Texas which give utilities, generators and customers access to technological insight and tools for managing merchant power risk so they can better match supply and demand. Broad Reach Power was founded in 2019 and is based in Houston, Texas.

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Buyer(S) 1

Buyer

ENGIE

Courbevoie, France
Category Company
Founded 1880
Sector Utilities
Employees97,000
Revenue 82.6B EUR (2023)
DESCRIPTION

ENGIE is a French utility company. ENGIE provides electricity generation and distribution, natural gas and renewable energy. ENGIE was founded in 1880 and is based in Courbevoie, France.

DEAL STATS #
Overall 31 of 31
Sector (Renewable Energy) 11 of 11
Type (Add-on Acquisition) 21 of 21
State (Texas) 1 of 1
Country (United States) 10 of 10
Year (2023) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-21 BTE Renewables

Fourways, South Africa

BTE Renewables is a clean and renewable energy company develops, acquires, owns and operates waste to energy, renewable energy, and energy efficiency projects in the sub-utility range of approximately 5-100MW. These include Golden Valley, a 123MW wind project in the Eastern Cape; Excelsior, a 33MW wind project in the Western Cape; Aggeneys, a 46MW solar project in the Northern Cape; Konkoonsies II an 86MW solar project in the Northern Cape and a 4MW biogas facility. BTE Renewables was founded in 2003 and is based in Fourways, South Africa.

Buy $1.0B
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