Announced
Financials
Sources
Tags
renewable energy
Renewable Energy Equipment
United States
Acquisition
Cross Border
Majority
Private
Private Equity
Pending
Friendly
Single Bidder
Synopsis
ENGIE, a multinational utility company, agreed to acquire Broad Reach Power, a company specialized in battery storage, from Apollo and EnCap, two private equity funds, for $1.6bn. "This acquisition is fully in line with ENGIE's strategy: it will contribute to the development of a low-carbon, affordable and resilient energy system where flexible assets will play a critical role alongside renewables,” Catherine MacGregor, ENGIE CEO.
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