Engie North America to acquire US solar energy company SoCore Energy

Energy acquisition news : Engie North America has signed a deal to acquire SoCore Energy, a Chicago-based solar energy company from Edison International for an undisclosed price, in a move to expand its solar portfolio in the US.

Engie acquisition of SoCore Energy includes 150MW of solar power assets that are either in operation or under construction till date and 170MW of solar power projects in advanced stage of development along with battery storage-based projects.

SoCore Energy, which has about 70 employees, is into project origination and development, project financing engineering, procurement along with project and operations management.

Engie said that the SoCore team will be working with it to wrap up the late-stage solar power projects of the Chicago-based solar energy company with plans to continue and operate them.

Solar power plant panels. Photo courtesy of Naypong at FreeDigitalPhotos.net.

Commenting on Engie acquisition of SoCore Energy, Frank Demaille – President and CEO of Engie North America, said: “As with our recently announced acquisition of wind developer Infinity Renewables, with SoCore, Engie is investing in an experienced, accomplished development team, and we look forward to working with this team to accelerate the expansion of our renewables presence within the United States.

“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.”

Engie will retain the staff of SoCore Energy and also its Chicago headquarters post acquisition.

Rob Scheuermann – CEO and President of SoCore Energy, commenting on Engie acquisition of SoCore Energy said: “The SoCore team is enthusiastic about joining the Engie group. Solar development firmly aligns with the strategic direction of Engie, and the combination of our talents will enable accelerated growth in the business, as well as more solutions for customers, including solar-with-storage options.”