Engie to acquire Texas-based power storage firm Broad Reach Power

Aug 24 (Reuters) – France’s Engie (ENGIE.PA) on Thursday said it is acquiring full ownership of Broad Reach Power, a power storage company based in Houston, Texas, as it seeks to expand its global battery infrastructure.

The deal signed with private equity firms EnCap and Apollo involves the purchase of operating assets with a capacity of 350 megawatt while projects equivalent to 880 megawatt are currently under construction and another 1.7 gigawatt in advanced project stage, Engie said.