ENGIE to acquire Broad Reach Power from Apollo and EnCap for $1.6bn.

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.