ENGIE to Acquire SoCore Energy
Photo: FedEx Ground Hub in Hagerstown, Maryland (SoCore)
ENGIE North America Inc. has signed an agreement to acquire Illinois-based SoCore Energy. The acquisition includes 150 MW of solar assets in operation or under construction by March 31, 2018, 170 MW of solar projects in late-stage development, as well as projects combining battery storage elements.
Headquartered in Chicago, the company has approximately 70 employees. ENGIE says it will retain SoCore’s personnel and headquarters. The combined ENGIE and SoCore team will be working together to complete development and construction of the late-stage SoCore portfolio, and will continue to own and operate those projects.
“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,” said Frank Demaille, President and CEO of ENGIE North America.
Marathon Capital served as the financial advisor to SoCore and Edison International, the parent company of SoCore.
Rob Scheuermann, CEO and President of SoCore Energy, concluded, “The SoCore team is enthusiastic about joining the ENGIE group.”
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