CBRE IM Invests In ENGIE’s Battery Storage Portfolio

In a landmark deal signaling growing momentum in the clean energy transition, ENGIE North America has secured a major investment from CBRE Investment Management (CBRE IM) in one of the largest battery storage financing transactions to date. The investment, which centers around a portfolio of large-scale battery storage assets across Texas and California, represents a significant step forward in modernizing U.S. energy infrastructure and addressing the challenges posed by renewable energy integration into the national grid.

The portfolio comprises a total of 2.4 gigawatts (GW) of energy storage capacity, encompassing 31 operational projects spread across two of the country’s major grid operators: the Electric Reliability Council of Texas (ERCOT) and the California Independent System Operator (CAISO). These regions have emerged as leaders in renewable energy generation and are seeing mounting demand for reliable energy storage solutions to stabilize electricity supply and enhance grid resilience.

As renewable energy sources like wind and solar become increasingly central to the power mix, energy storage plays a vital role in balancing supply and demand. Unlike fossil fuels, renewable power generation is inherently variable—dependent on the availability of sunlight or wind at any given moment. Battery storage bridges this gap by capturing excess energy when production is high and releasing it when demand peaks, enabling round-the-clock access to clean power. This function becomes especially critical as grid loads continue to rise, driven by factors such as electric vehicle adoption, electrification of transportation and buildings, and the burgeoning demands of AI computing.

The transaction is seen as a strong endorsement of ENGIE’s clean energy leadership in North America. By partnering with CBRE IM, a globally recognized investment management firm, ENGIE is not only able to recycle capital to reinvest in future renewable and energy transition projects, but also deepen its network of strategic investors committed to sustainable infrastructure. The move aligns with ENGIE’s broader strategy to expand its presence in North America’s renewable energy sector, while fostering partnerships that bring in long-term financial and operational stability.

Commenting on the investment, Robert Shaw, Managing Director of Private Infrastructure Strategies at CBRE Investment Management, emphasized the significance of the partnership and the opportunity it presents. “We are excited to partner with ENGIE on this high-quality, scaled battery storage portfolio with a strong operating track record,” he said. “This investment reflects our proven strategy of investing in infrastructure 2.0 assets that leverage the breadth of the CBRE IM platform and benefit from strong contracted revenue and macro digitalization and decarbonization tailwinds.”

The phrase “infrastructure 2.0” refers to the next generation of infrastructure investments that go beyond traditional utilities and transport assets, focusing instead on assets that align with a low-carbon, digitally connected economy. Energy storage is a central component of this evolution, and investors like CBRE IM are increasingly seeking out opportunities in this space, not just for their potential returns, but also for their role in achieving global sustainability targets.

For ENGIE, the partnership represents one of its largest operational portfolio collaborations in the U.S. to date. Dave Carroll, Chief Renewables Officer and Senior Vice President at ENGIE North America, expressed enthusiasm about the scale and impact of the transaction. “We are delighted that ENGIE and CBRE IM are partnering in this industry-leading transaction, supporting 2.4 GW of storage that will support the growing demand for power in Texas and California,” he said. “The scale of this portfolio reflects ENGIE’s commitments to meeting the energy needs of the U.S. and increasing the resilience of the ERCOT and CAISO grids.”

As the energy landscape in North America continues to transform, driven by climate goals and technological innovation, partnerships like the one between ENGIE and CBRE IM are expected to become more common and more critical. With grid reliability and decarbonization becoming twin imperatives, large-scale battery storage is set to play a defining role in how the U.S. meets its future energy needs. This transaction not only marks a milestone for the companies involved but also serves as a bellwether for the broader shift toward sustainable, resilient, and digitally enabled energy systems.