Case Studies


ENGIE’s Acquisition of Green Charge Networks

TRANSACTION OVERVIEW

  • On May 10, 2016, ENGIE’s North American business unitvannounced its acquisition of an 80 percent stake in Green Charge Networks, LLC (“Green Charge”)

ENGIE OVERVIEW

  • ENGIE is a global utility and independent power producer with operations in 70+ countries employing 150,000+ people and generating $77 billion in revenue in 2015
  • ENGIE provides individuals, cities and businesses with
    highly efficient and innovative solutions largely based on its expertise in four key sectors: renewable energy, energy efficiency, liquefied natural gas and digital technology
  • ENGIE develops its businesses (power, natural gas, energy services) utilizing a responsible growth model to address the challenges in transitioning to a low-carbon economy

 

GREEN CHARGE NETWORKS OVERVIEW

  • Green Charge, with offices in Santa Clara, New York and San Diego, has developed a portfolio of 48 MWh of battery storage projects either deployed or under construction across more than 150 sites
  • Utilizing its advanced, patented software algorithms and analytics, Green Charge deploys, owns, operates, and optimizes battery systems at commercial and industrial (C&I) and public sector customer sites in the U.S.
  • To date, the company has helped customers reduce their electricity bills up to 30% while leveraging the installed base to provide ancillary services to the grid
  • Green Charge will benefit from the support of a larger family of ENGIE businesses in North America

GREENTECH’S ROLE

  • Greentech served as an exclusive financial and strategic advisor to ENGIE and was closely involved in all aspects of the transaction, including structuring, valuation, due diligence and negotiation
  • Acquisition of Green Charge was part of the overall strategy set forth by ENGIE in 2014 to build an integrated energy services platform in North America targeting C&I and public sector clients, with Greentech serving as an advisor on executing this strategy
  • Three recent ENGIE acquisitions – Ecova, OpTerra and now Green Charge – are fundamentally different businesses but equally important to a bundled service offering of energy management & efficiency as well as distributed energy technologies, and provide ENGIE with enhanced access to a C&I customer base and valuable data around C&I energy use patterns
  • Greentech’s deep industry knowledge and extensive transaction experience allowed ENGIE to negotiate a complex deal structure and achieve advantageous deal terms

WHAT THE TRANSACTION MEANS
FOR THE ENERGY STORAGE SECTOR

  • The transaction represents the first large-scale entry of a European utility into the U.S. energy storage market, and confirms said market is poised for tremendous growth over the next few years
  • Green Charge will benefit from ENGIE’s international capabilities and strong balance sheet to help execute on C&I asset roll-outs

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