ENGIE North America has entered into a partnership with CBRE Investment Management on a 2.4 gigawatt (GW) portfolio of battery storage assets across Texas and California. This marks one of the largest operating storage portfolio partnerships in the U.S. to date.

The portfolio, which includes 31 operational projects located in the ERCOT and CAISO territories, will remain majority-owned and operated by ENGIE, with CBRE IM holding a significant minority stake.

“This industry-leading transaction supports the growing demand for power in Texas and California,” said Dave Carroll, Chief Renewables Officer and SVP at ENGIE North America. “It reflects our continued investment in grid resilience and the energy transition.”

CBRE IM, which manages $149.1 billion in assets globally, views the investment as a strategic move aligned with decarbonization and digital infrastructure trends. “We’re excited to partner with ENGIE on this high-quality, scaled battery storage portfolio,” said Robert Shaw, Managing Director, Private Infrastructure Strategies at CBRE Investment Management.

The deal supports ENGIE’s broader North American strategy to expand its 11 GW renewable and storage footprint and to recycle capital while attracting top-tier partners.

Source: engie-na.com