Engie completes $1 billion Tax Equity Financing for 1.3 GW renewables in the US

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Engie North America has announced that it has secured more than $1 billion of Tax Equity financing, through separate agreements with three banks, J.P. Morgan, Goldman Sachs and BNP Paribas. The financing pertains to a portfolio of recently commissioned renewable projects in the U.S. Furthermore, the overall portfolio includes 6 projects across ERCOT, MISO and SPP, including 950 MW of solar and 353 MW of wind capacity.

In January 2024, Amazon inked a corporate power purchase agreement (CPPA) with Engie to secure the 473 MW output of the Moray West offshore wind farm in Scotland. The deal is part of the e-commerce giant’s plan to run all of its operations entirely on renewable energy by 2025. The wind farm, which is slated to begin operations in 2024, will provide enough energy to power 650,000 UK households per year.

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