ENGIE Acquires Broad Reach Power
August 24, 2023
ENGIE has acquired Broad Reach Power, a Houston-based developer and operator of utility-scale battery energy storage systems, from investors including EnCap Energy Transition and Apollo funds. The deal—reported to be for an equity value of over $1 billion—strengthens ENGIE's battery-storage capabilities and advances its objective to reach 10 GW of battery capacity by 2030 while reinforcing its position in the United States energy transition.
- Buyers
- ENGIE
- Targets
- Broad Reach Power
- Sellers
- EnCap Energy Transition, Apollo Global Management funds
- Industry
- Energy
- Location
- Texas, United States
- Transaction Type
- Buyout
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