Ares Infrastructure Opportunities announced a 730 MW expansion of its renewable portfolio, adding one wind and two solar facilities that are already operating on the ERCOT grid in Texas. The new assets bring the joint venture’s total U.S. renewable capacity to 4.3 GW, a 17 % increase over the previous 3.6 GW level.
The partnership, which has been in place for several years, continues to be structured so that ENGIE North America retains a controlling share and manages the assets, while Ares provides capital and receives a larger share of operating cash flow and management fees. The addition is expected to lift Ares’ renewable infrastructure revenue stream and strengthen its position in the rapidly growing U.S. clean‑energy market.
Steve Porto, partner in Ares Infrastructure Opportunities, said the deal "builds on our long‑standing relationship with ENGIE and expands our exposure to high‑quality, low‑carbon generation in a key growth region." Dave Carroll, CEO of ENGIE North America, added that the 730 MW addition "demonstrates both companies’ commitment to meeting rising demand for clean power in Texas and the broader United States."
Texas’ ERCOT market has seen a surge in solar and wind capacity, driven by state‑level renewable mandates and a growing appetite for low‑carbon electricity. The new assets are positioned to benefit from this trend, providing Ares with a stable, long‑term cash flow stream that aligns with its infrastructure investment strategy.
The expansion underscores Ares’ strategy of leveraging strategic alliances to grow its infrastructure platform. By adding significant renewable capacity without taking on operational risk, Ares can enhance its fee‑based earnings while maintaining a diversified portfolio that includes data centers, renewable natural gas, and other infrastructure assets.
Overall, the 730 MW addition represents a material step forward for Ares, reinforcing its foothold in the U.S. renewable sector and providing investors with a new source of stable, long‑term cash flow from high‑quality assets.
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