ENGIE North America (ENGIE) has formed a partnership with funds managed by CBRE Investment Management (CBRE IM) for a portfolio of battery storage assets across Texas and California. The 2.4 GW portfolio encompasses 31 operational projects in the Electric Reliability Council of Texas (ERCOT) and California Independent System Operator (CAISO) territories.
ENGIE will retain a controlling stake in the portfolio. It will also continue to operate and manage the battery storage assets. CBRE IM is a global real assets investment management firm. It has $149.1 billion in assets under management and operates in 20 countries across the world.
Earlier this month, ENGIE and NHOA Energy commenced construction on a 400 MWh battery energy storage system (BESS) in Kallo, located in the municipality of Beveren. The project is being executed by NHOA Energy under a supply contract and long-term service agreement with ENGIE.
