ENGIE Signs Target on Sand Fork Solar Project in Texas

HOUSTON–(BUSINESS WIRE)–ENGIE North America Inc. today announced it has entered into a Power
Purchase Agreement (PPA) with Target Corp. for 89 MW of capacity from
the Sand Fork Solar Project in Texas.

Slated to come online in the summer of 2021, the Sand Fork Solar Project
will have a total capacity of 200 MW. In addition to providing clean,
renewable energy, the Project will have a positive economic impact in
the local area, namely through local construction jobs and purchases of
local goods and services. The remainder of the Project’s capacity will
be purchased by another corporate customer.

The power purchase agreement has a term of 15 years and is estimated to
result in annual generation of 250,000 megawatt hours, enough energy to
power 250,000 U.S homes for more than a month.

“We truly value the opportunity to support Target in its commitment to
source electricity from renewables [https://corporate.target.com/article/2019/06/renewable-electricity],”
said Gwenaelle Avice-Huet, CEO of ENGIE North America. “By serving
Target with the Sand Fork Project, we’re proud to help shape a
sustainable future for customers and communities and reinforce our
ambition to lead the zero-carbon transition.”

ENGIE’s ambition is to lead the zero-carbon transition based on 3
pillars: Client Solutions across a broadening array of services
(including on-site co-generation, heating and cooling networks, public
lighting, rooftop solar); Networks to adapt them to future green gas
requirements and continue to generate attractive returns and substantial
cash flow; and Renewables, with a plan to add 9 GW of renewables
capacity to the Group portfolio (24 GW at the end of 2018) by 2021. In
this field, ENGIE targets 50% of new renewable projects dedicated to
specific customers by 2021 and to play a leading role in next-generation
renewable platforms including offshore wind and green gas.

North America will be a key market to reach these ambitions both in
Client Solutions and Renewables. The Sand Fork Solar Project will
contribute to ENGIE’s goal to build at least 2.5 GW of wind and solar
capacities in the next 3 years in the U.S. and Canada. As with the Sand
Fork Project, these capacities will be dedicated to specific customers.

About ENGIE North America Inc.
ENGIE North America manages a
range of energy businesses in the United States and Canada, including
clean power generation, cogeneration, and energy storage; retail energy
sales; and comprehensive services to help customers run their facilities
more efficiently and optimize energy and other resource use and expense.
Nearly 100 percent of the company’s power generation portfolio is low
carbon or renewable. Globally, ENGIE is the largest independent power
producer and a leading energy efficiency services provider in the world,
employing 160,000 people, including 1,100 researchers. For more
information on ENGIE North America, please visit our Instagram,
LinkedIn, Twitter,
or Facebook
pages or www.engie-na.com
web site.

Contacts

Julie Vitek, 713 636 1962
julie.vitek@engie.com