ENGIE to Purchase SoCore Energy
By Editors of Power Engineering
ENGIE North America Inc. announced it will acquire Chicago-based SoCore Energy, a developer, owner, and operator of 150 MW of municipal, co-op, community-based, commercial and industrial solar projects in operation or under construction across the United States, with an additional 170 MW of solar projects in late-stage development. SoCore also incorporates battery storage into some of its developments.
ENGIE said in a press release SoCore, which will retain its employees and headquarters, will help the company serve utilities, municipalities and corporations that are seeking more renewable energy sources.
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.
“As with our recently announced acquisition of wind developer Infinity Renewables, with SoCore, 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 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,” he added.
“The SoCore team is enthusiastic about joining the ENGIE group,” said Rob Scheuermann, president and CEO of SoCore. “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.”
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