Engie bags US$1 billion for 1GW US solar PV portfolio – PV Tech

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They represent the largest tax equity arrangement deal signed by Engie North America to date. The financing is structured in three separate deals, with US banks JP Morgan and Goldman Sachs and France-based financial services company BNP Paribas.

Engie has a number of operations in the ERCOT market, which operates the majority of Texas’ grid. Last November the company signed two virtual power purchase agreements (VPPA) with paper producer WestRock for the Bernard Creek and Chillingham PV projects, both connected to the ERCOT system.

Earlier this month Engie inked a Tax Credit Transfer Agreement (TCTA) with French energy firm Schneider Electric for a Texas solar-plus-storage project portfolio. Details of the projects in this were not specified but were expected to be commissioned this year.

The MISO network, meanwhile, covers 15 states in the central US and has seen an increase in solar PV deployments of late. Solar developer Adapture Renewables bought a 450MW portfolio of MISO-connected projects in late 2023. Then, earlier this month, Adapture bought another 333MW MISO solar portfolio from Japanese corporation Itochu.

In total, the company claims to have over 7GW of renewable energy generation capacity either in development or operational across the US and Canada.

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