Engie said the acquisition is part of its aim to expand its offering in decentralized solar systems for municipalities and corporations as well as utilities.
The acquisition includes 150 MW of solar PV assets that are currently operational or planned for operation by the end of this month, 170 MW of projects in late-stage development and an unspecified number of projects that include battery energy storage.
Rob Scheuermann, SoCore Energy’s president and CEO, said the firm was “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,” he added.
SoCore says it has operating or development relationships with more than 25 cooperatives and municipalities and boasts “dozens” of community solar projects powering schools, businesses, organizations and cities. The company also operates solar+storage systems in 21 US states.
Meanwhile, Engie this week also closed its acquisition of Paris-based microgrid and energy storage firm Electro Power Systems (EPS). Engie now owns a 51 per cent stake in the French company.
According to Carlalberto Guglielminotti, EPS CEO, the firm is “a leading player in decentralized energy solutions with a unique technology play to accelerate the energy transition” and is “delivering one of the largest installed bases of commercial microgrids and utility-scale systems globally”.