ENGIE buys Infinity Renewables, 8 GW project portfolio
Deal considerably expands ENGIE’s wind development portfolio and team in U.S.
The acquisition includes more than 8,000 MW of projects in various stages of development.
Headquartered in Santa Barbara, California, Infinity Renewables’ experienced team, along with its funding and development partner MAP Renewable Energy, has successfully developed and sold nearly a dozen projects totaling over 1,600 MW, all of which are now in commercial operation.
Corporations in the U.S. are increasingly seeking clean energy sources of power, both utility-scale and decentralized, as well as services to run their facilities more reliably and efficiently with fewer carbon emissions and lower costs. ENGIE has been working to expand its offerings in North America to address these needs. Infinity Renewables will be a key piece of ENGIE’s solution set for current and future customers. ENGIE intends to retain the entire Infinity staff, including its principals who formed Infinity Renewables in 2008. The combined ENGIE and Infinity Renewables team will be working together to complete development and construction of the Infinity portfolio and will continue to own and operate those projects following commercial operation to support the increasing demand in the U.S. for renewable energy and more broadly the United States’ transition to a cleaner electrical system.
“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,” said Frank Demaille, President and CEO of ENGIE North America. “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,” he added.
“We’re very excited to join the ENGIE family, and to contribute to the company’s transition to a low-carbon future,” said Matt Riley, CEO of Infinity Renewables. “Joining forces with a global renewable energy leader like ENGIE enables Infinity to advance its original mission, to bring more wind energy online. Working with ENGIE will benefit our key stakeholders, including landowners, communities, and purchasers of zero-carbon energy from our wind farms.”
The Infinity Renewables team will join a larger family of ENGIE businesses in North America, which span renewable and natural gas-fired power production, including a renewables presence in Canada with 700 MW of operating wind generation and over 2,000 MW of wind projects in various stages of development; natural gas and liquefied natural gas (LNG) deliveries; retail energy sales to homes and businesses; and a wide range of services to enhance energy efficiency and reduce carbon and cost.