Engie to buy projects in Pennsylvania
ByAinvest
Tuesday, Jul 22, 2025 1:36 pm ET1min read
Engie to buy projects in Pennsylvania
ENGIE North America, a leading player in the energy transition, has announced the acquisition of a portfolio of 22 net energy metered (NEM) solar energy projects in Pennsylvania. The total capacity of these projects exceeds 70 MW and was acquired from Prospect14, a Pennsylvania-based solar energy developer [1].ENGIE's acquisition underscores its commitment to advancing renewable energy in the region, creating jobs, generating local tax revenue, and enhancing distribution grid reliability. The projects, designed to provide clean and cost-effective electricity, align with ENGIE's mission to deliver sustainable, locally sourced energy while supporting Pennsylvania's transition to a more resilient and decarbonized energy system [1].
Kristen Fornes, Head of Distributed Solar and Storage at ENGIE North America, commented on the acquisition, stating, "We are excited to develop solar energy projects in Pennsylvania. These projects align with our mission to deliver sustainable, locally sourced energy while supporting the Commonwealth's transition to a more resilient and decarbonized energy system" [1].
Brendan Neagle, President of Prospect14, added, "This is great news for Pennsylvania. A well-capitalized energy market leader like ENGIE investing in solar projects in the Commonwealth means more jobs, increased local tax revenue for rural communities, and enhanced reliability for the distribution grid. Prospect14 is proud to play a role in making these benefits a reality in our home state" [1].
The acquisition of this portfolio reinforces the growing demand for distributed solar generation in Pennsylvania and highlights the financeability of NEM solar projects. As Pennsylvania continues to expand its clean energy infrastructure, transactions like this will help drive economic growth and environmental sustainability [1].
References:
[1] https://www.prnewswire.com/news-releases/engie-acquires-portfolio-of-net-energy-metered-distributed-solar-energy-projects-in-pennsylvania-from-prospect14-302511058.html
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