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ENGIE Partners with CBRE IM on 2.4 GW Battery Storage Portfolio in Texas and California

ENGIE North America has announced a strategic partnership with funds managed by CBRE Investment Management (CBRE IM) for a 2.4 GW battery storage portfolio across Texas and California. Comprising 31 projects in the ERCOT and CAISO markets, this is one of ENGIE’s largest portfolio transactions in the U.S. to date. ENGIE will retain operational control and a majority stake, continuing to manage the assets.

The collaboration supports ENGIE’s broader strategy of capital recycling and expanding its renewable energy presence in North America, where it now has over 11 GW of renewables and storage assets in operation or under construction. This transaction also adds a globally recognized institutional investor to ENGIE’s partnerships.

CBRE IM views the investment as part of its "Infrastructure 2.0" strategy, focusing on assets with stable revenue and strong growth prospects driven by digitalisation and decarbonisation trends. The partnership underscores the increasing importance of battery storage in enhancing grid resilience and supporting energy transition efforts in high-demand markets like Texas and California.