ENGIE North America Inc. has acquired wind energy developer Infinity Renewables LLC for an undisclosed price, underscoring the steady expansion of the French utility's U.S. low-carbon energy platform.
ENGIE North America, a Houston-based integrated energy supply subsidiary of ENGIE SA, announced Feb. 20 that it has purchased Infinity in a deal including ownership of an approximately 8,000-MW development pipeline, according to a news release.
A spokesman for ENGIE North America declined to provide a price for the deal, noting that the terms are confidential.
Infinity, headquartered in Santa Barbara, Calif., has developed and sold over 1,600-MW of projects since its founding in 2008, working alongside its funding partner, MAP Renewable Energy. The majority of Infinity's wind development projects are centered in the Electric Reliability Council of Texas and Southwest Power Pool, according to S&P Global Market Intelligence data, with 5,754 MW announced or planned for development across the U.S.
For ENGIE, the deal represents the latest iteration of a strategy to expand its clean energy platform, which ranges from the marketing of wholesale power and liquefied natural gas to supplying commercial, industrial and residential energy customers. Its decision to buy Infinity, however, appears primarily geared toward entering the market for corporate renewable energy buyers, which in recent years have joined utilities as one of the biggest groups buying renewable dispatch.
"By adding more wind energy to our other retail, solar, and biomass offerings in the U.S., we can meet customers' renewable energy procurement goals much more comprehensively than before," ENGIE North America CEO and President Frank Demaille said in a statement.
ENGIE plans to retain and absorb the entire Infinity staff, which will work to develop the existing pipeline and pursue new corporate off-takers.
"With Infinity Renewables, ENGIE is investing in an experienced, accomplished development team, and we look forward to working with this team to accelerate the expansion of our renewables presence within the United States," Demaille added.