ENGIE North America to Acquire SoCore Energy

Deal Will Considerably Expand ENGIE’s Solar Portfolio and Team in the
U.S.

HOUSTON–(BUSINESS WIRE)–ENGIE North America Inc. today announced it has signed an agreement to
acquire SoCore Energy, a fully-integrated developer, owner, and operator
of municipal/co-op solar, community solar, and commercial and industrial
(C&I) solar projects with a footprint across the United States. The
acquisition includes 150 MW of solar assets in operation or under
construction by March 31, 2018, 170 MW of solar projects in late-stage
development, as well as projects combining battery storage elements.

Headquartered in Chicago, SoCore’s capabilities span project origination
and development, engineering, project financing, procurement, project
management, and operations management. The company has approximately 70
employees.

Municipalities, utilities, and corporations in the U.S. are increasingly
seeking clean energy sources of power, both utility-scale and
decentralized, as well as services to run their facilities more reliably
and efficiently with fewer carbon emissions and lower costs. ENGIE has
been working to expand its offerings in North America to address these
needs. SoCore will be a key piece of ENGIE’s solution set for current
and future customers. ENGIE intends to retain SoCore’s personnel and
Chicago-based headquarters. The combined ENGIE and SoCore team will be
working together to complete development and construction of the
late-stage SoCore portfolio, and will continue to own and operate those
projects following commercial operation to support the increasing demand
in the U.S. for renewable energy and more broadly the United States’
transition to a cleaner electrical system.

“As with our recently announced acquisition of wind developer Infinity
Renewables, with SoCore, ENGIE is investing in an experienced,
accomplished development team, and we look forward to working with this
team to accelerate the expansion of our renewables presence within the
United States,” said Frank Demaille, President and CEO of ENGIE North
America. “By adding more solar energy to our other retail, wind, and
biomass offerings in the U.S., we can meet customers’ renewable energy
procurement goals much more comprehensively than before,” he added.

Rob Scheuermann, CEO and President of SoCore Energy, said, “The SoCore
team is enthusiastic about joining the ENGIE group. Solar development
firmly aligns with the strategic direction of ENGIE, and the combination
of our talents will enable accelerated growth in the business, as well
as more solutions for customers, including solar-with-storage options.”

The SoCore team will join a larger family of ENGIE businesses in North
America, which span renewable and natural gas-fired power production,
including a number of solar projects in operation and under development
in the U.S. and Canada, natural gas and liquefied natural gas (LNG)
deliveries; retail energy sales to homes and businesses; and a wide
range of services to enhance energy efficiency and reduce carbon and
cost. ENGIE serves customers ranging from Fortune 500 companies; small
businesses; utilities; federal, state, provincial, and municipal
governments; universities; and individuals.

Marathon Capital served as the financial advisor to SoCore and Edison
International (NYSE:EIX), the parent company of SoCore.

About SoCore
SoCore Energy (www.SoCoreEnergy.com)
is a Chicago-based market leader in commercial, industrial, and
distributed solar and storage portfolio development. With hundreds of
solar solutions designed and installed across more than 20 states,
SoCore offers commercial and industrial companies, electric
cooperatives, and communities portfolio-wide solar and storage solutions
that provide energy cost savings, increased resiliency and carbon
reduction opportunities. SoCore is currently a wholly owned, indirect
subsidiary of Edison International (NYSE: EIX).

About ENGIE North America Inc.
ENGIE North America Inc.
manages a range of energy businesses in the United States and Canada,
including renewable and low-carbon electricity generation and
cogeneration, natural gas and liquefied natural gas (LNG) distribution
and sales, retail energy sales, and services to help customers run their
facilities more efficiently and optimize energy use and expense.

About ENGIE S.A.
ENGIE is committed to taking on the major
challenges of the energy revolution, towards a world more decarbonized,
decentralized, and digitalized. The Group aims to become the leader of
this new energy world by focusing on three key activities for the
future: low carbon generation in particular from natural gas and
renewable energy, energy infrastructure, and efficient solutions adapted
to all its customers (individuals, businesses, territories, etc.).
Innovation, digital solutions, and customer satisfaction are the guiding
principles of ENGIE’s development. ENGIE is active in around 70
countries, employs 150,000 people worldwide and achieved revenues of
€66.6 billion in 2016. The Group is listed on the Paris and Brussels
stock exchanges (ENGI) and is represented in the main financial indices
(CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI
Europe) and non-financial indices (DJSI World, DJSI Europe and Euronext
Vigeo Eiris – World 120, Eurozone 120, Europe 120, France 20, CAC 40
Governance).

Contacts

ENGIE
Julie Vitek, 713-636-1962
[email protected]