Engie North America to obtain SoCore Energy

Engie North America asserted venturing into a signed agreement to obtain SoCore Energy which is a fully-integrated developer, owner and operator of municipal/co-op solar, community solar, and commercial and industrial (C&I) solar projects with a footprint across the United States.

The transaction enumerates 150MW of solar assets in operation or under construction by March 31, 2018. 170 MW of solar projects in late-stage development, as well as projects combining battery storage elements.

Municipalities, utilities, and 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. SoCore will be a key piece of ENGIE’s solution set for current and future customers. ENGIE intends to retain SoCore’s personnel and Chicago-based headquarters. The combined ENGIE and SoCore team will be working together to complete development and construction of the late-stage SoCore 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.

Frank Demaille, President and CEO of ENGIE North America said “By adding more solar energy to our other retail, wind, and biomass offerings in the U.S., we can meet customers’ renewable energy procurement goals much more comprehensively than before.”

Rob Scheuermann, CEO and President of SoCore Energy, said, “The SoCore team is enthusiastic about joining the ENGIE group. Solar development firmly aligns with the strategic direction of ENGIE, and the combination of our talents will enable accelerated growth in the business, as well as more solutions for customers, including solar-with-storage options.”