Ares completed the acquisition a minority stake in a 2.7GW portfolio of renewables and storage assets in the US from Engie.

Ares, a global alternative investment manager, completed the acquisition a minority stake in a 2.7GW portfolio of renewables and storage assets in the US from Engie, a French multinational utility company. Financial terms were not disclosed. "We are delighted that ENGIE and Ares will be partners in such a large-scale renewables and co-located storage portfolio to further accelerate the energy transition towards a net zero future. The investment by Ares reflects ENGIE’s proven and recognized track record in developing, building, operating and financing renewable assets, both in North America and globally," Dave Carroll, ENGIE North America Chief Renewables Officer.