Ares Management Corp and ENGIE SA have added one wind and two solar projects already operating in the ERCOT market to their renewable energy partnership in the United States.
The new assets have a combined capacity of 730 megawatts, a joint statement said.
“ENGIE will retain a controlling share in the portfolio and will continue to operate and manage the assets”, the partners said.
“The continued growth of our relationship with Ares reflects the strength of ENGIE’s portfolio of assets and our track record of delivering, operating and financing growth in the U.S. despite challenging circumstances”, said Dave Carroll, chief executive and chief renewables officer of ENGIE North America.
“This transaction supports ENGIE’s strategy of continued investment in North America by deepening its partnership with a leading infrastructure investor, recycling capital to facilitate continued expansion of renewable generation to meet strong demand for power in the U.S.”, the joint statement said.
French state-backed utility ENGIE has over 16 gigawatts (GW) of renewable generation projects in operation or under construction across the U.S. and Canada. Globally it has an installed capacity of 52.7 GW of renewables and energy storage, with a goal of 95 GW by 2030, the statement said.
In the U.S., ENGIE has announced two projects this year, the Knox 2A and Knox 2B community solar farms in Galesburg, Illinois. The facilities are designed to deliver a combined 8.2 kilowatt hours a year to the state grid.
The capacity represents an avoidance of over 7,800 metric tons of carbon dioxide emissions annually, the same as taking off nearly 1,700 cars off the road for a year, ENGIE said in a press release January 6, 2026.
Also in Illinois ENGIE and co-venturer Solstice Power Technologies LLC started up the 2.5-MW Harmony community solar project late last year. “The Harmony community solar farm is designed to bring significant savings to hundreds of low- to moderate-income families, with 60 percent of the project’s capacity reserved specifically for income-qualified Illinois residents, many of whom have traditionally been unable to access the benefits of renewable energy”, said a joint statement December 19, 2025.
Meanwhile Ares, a Los Angeles-based global asset manager, recently acquired a minority stake in another European renewable power producer, Plenitude of Italy’s state-backed Eni SpA. Ares and Eni said November 4, 2025 they had completed a deal under which Ares acquired 20 percent in Plenitude for around EUR 2 billion ($2.32 billion) at an implied enterprise value of EUR 12 billion.
“This closing underscores the Ares platform’s ability to deliver flexible capital at scale to high-quality, asset-focused businesses”, Joel Holsinger, partner and co-head of alternative credit at Ares, said in an online statement then.
Plenitude had 4.8 GW of installed capacity as of the third quarter of 2025, according to Eni’s latest quarterly report.
To contact the author, email jov.onsat@rigzone.com
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