Parent Of Retail Supplier To Acquire Solar Developer, Leverage For Comprehensive Solution For Retail Customers

ENGIE North America Inc. today announced that it has signed an agreement to acquire SoCore Energy, a fully-integrated developer, owner, and operator of municipal/co-op solar, community solar, and commercial and industrial (C&I) solar projects with a footprint across the United States.

The acquisition includes 150 MW of solar assets in operation or under construction by March 31, 2018, 170 MW of solar projects in late-stage development, as well as projects combining battery storage elements.

SoCore’s capabilities span project origination and development, engineering, project financing, procurement, project management, and operations management. The company has approximately 70 employees.

"SoCore will be a key piece of ENGIE’s solution set for current and future customers. ENGIE intends to retain SoCore’s personnel and Chicago-based headquarters. 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," ENGIE said

"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," said Frank Demaille, President and CEO of ENGIE North America.

SoCore is currently a wholly owned, indirect subsidiary of Edison International