ENGIE North America, a Texas-based electric utility, has announced the acquisition of a portfolio of 22 net energy metered solar projects, totaling over 70 MW in Pennsylvania, from Prospect14, a Pennsylvania-based solar project developer.
The company did not disclose the financial details of the acquisition.
With the acquisition of these projects, ENGIE continues to expand its renewable energy portfolio in the region. It also reinforces the growing demand for distributed solar generation in Pennsylvania and the financeability of net energy metered solar projects.
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.”
Kristen Fornes, Head of Distributed Solar and Storage at ENGIE North America, commented, “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.”
In March, ENGIE North America announced the completion of more than $1 billion in tax equity financing for 1.3 GW of renewable energy projects in the U.S. The financing pertains to a portfolio of recently commissioned renewable projects in the U.S. The overall portfolio comprises six projects across ERCOT, MISO, and SPP, featuring 950 MW of solar and 353 MW of wind capacity.
According to Mercom’s 1H and Q2 2025 Solar Funding and M&A report, approximately 19.9 GW of solar projects were acquired in the first half of 2025, compared to 18.5 GW in the first half of 2024.
Earlier this month, DOMINION, an electric utility company, announced the sale of six solar projects totaling 321 MW located in the Dominican Republic for a value exceeding $375 million.
