Broad Reach Power
The business, the turning points, and the decisions behind them.
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Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Broad Reach Power, founded in 2019 in Houston, Texas with backing from EnCap Energy Transition, was a leading US developer, owner and operator of utility-scale battery energy storage and hybrid storage-plus-renewables projects. It built a portfolio of grid-scale batteries in Texas and California plus a multi-gigawatt development pipeline, and was acquired by French utility ENGIE in 2023 for more than 1 billion dollars of equity value.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- Company founded
Broad Reach Power is founded in Houston with backing from EnCap Energy Transition to develop utility-scale battery storage.
- Funding round
Apollo Funds acquire a 50% stake from EnCap; Broad Reach holds 1.4 GWh of storage in operation or construction and a 21 GW development portfolio.
- Acquisition
ENGIE agrees to acquire Broad Reach Power's battery storage business for more than 1 billion dollars of equity value: 350 MW operating, 880 MW under construction and a 1.7 GW advanced pipeline.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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