French energy utility company Engie Acquired 1.25GW practical scale Solar and storage portfolio From Canadian company Revolve Renewable Power.

The transaction was executed by EngieEngie IR Holdings, a wholly-owned subsidiary of, was acquired via a share purchase agreement.

The acquired portfolio consists of the 1GW Bouse solar and storage project and the 250MW Parker solar and storage project.

Both projects are located in La Paz County, Arizona.

Spread across 6,155 acres, the Bouse Project has the capacity to generate enough electricity to meet the needs of approximately 1.2 million households.

The Parker Project covers approximately 1,530 acres and has the capacity to power the equivalent of approximately 300,000 homes.

The total consideration to be paid by Engie for these projects includes an upfront payment of $2 million paid upon completion of the contract.

Revolve CEO Steve Dalton said:

“This is a significant transaction for us and represents the sale of the first utility-scale project from our US development portfolio.

“This transaction will also provide the company with additional resources to advance its remaining development portfolio, while evaluating the opportunity to add more greenfield project opportunities to its active development portfolio in the near future.”

Upon completion of the transaction, Engie will acquire all shares of Revolve Renewable AZ and Revolve Parker Solar for cash and debt-free.

The utility also agreed to support the further development of the acquired project portfolio, along with all future development costs and other financial liabilities.

In addition, the parties have signed put option agreements that will allow Engie to sell the projects back to Revolve for a limited time after the results of each project’s subsequent interconnection studies are available.