Gwenaëlle Avice-Huet, Executive Vice President of ENGIE, and Thierry Kalfon, Managing Director of the Renewables Global Business Line, will review ENGIE’s new Renewables Global Business Line during an investor seminar to be held in London today. Investors and analysts will be updated on market dynamics, and ENGIE’s mission, strategy and capabilities in renewable energy.
ENGIE will further elaborate on the targets presented at the Capital Markets Day on 28 February 2019:
- A capacity of 1.3 GW was installed in the first half of 2019. Additional projects for a total of 7.2 GW are currently under construction or secured at the end of the first half. The gap with the target of 9 GW of installed renewable capacity by 2021 is now 0.5 GW, compared to 3 GW last February.
- Over 2019-2021, ENGIE will invest around EUR 2.5 billion1 of Capex net of DBSO2, of which around 40% invested in fully consolidated assets (DBOO3 model) and around 60% in deconsolidated assets (DBSO and DSBO4 models).
- ENGIE confirms its indicative expectation of 8-11% COI CAGR5over 2018-21:
- Hydro to grow 8-11% CAGR
- Wind & solar to grow 10-13% CAGR
Summing up the seminar, Gwenaëlle Avice-Huet, said: “There is a huge growth potential on the global renewables market and ENGIE is in a unique position to capture this to deliver value. Our Renewables business has a strong momentum and is on track to reach the targets announced at the Capital Markets Day”.
In line with its strategy focused on leading the zero-carbon transition globally, ENGIE is steadily scaling its expertise in complex, multi-source, profiled power purchase agreements (PPAs) and 24/7 green energy flows to meet the increasing demand from global companies and local authorities. ENGIE is also significantly advancing its strategy in next generation renewable platforms including offshore wind and green gas. By 2021 the Group will have 50% of new renewable projects dedicated to specific customers while simultaneously becoming a leading corporate PPA supplier and the world leader in 24/7 green PPAs.
1Middle of the range of EUR2.3 – EUR2.5bn
2DBSO – Develop Build Share Operate
3DBOO – Develop Build Own Operate
4DSBO – Develop Share Build Operate
5CAGR – Compound Annual Growth Rate