Latest news with #ENGIENorthAmerica
Yahoo
16-05-2025
- Business
- Yahoo
Engie slows US renewable energy projects amid tariff uncertainties
French utility company Engie is reducing the pace of new renewable energy projects development in the US due to uncertainties surrounding tariffs on imported solar and battery materials, as reported by Reuters. Engie's finance chief Pierre-Francois Riolacci expressed concerns over the difficulty in determining the final price for customers, which has led to this strategic slowdown. Despite the delay in new projects, Engie's existing development pipeline remains unaffected. The company is seeking clarity on the Inflation Reduction Act (IRA) for future projects that have not yet reached the final investment decision stage. Engie CEO Catherine MacGregor highlighted the importance of the IRA, which aims to boost the US green energy economy, and noted that capital could be redirected to other markets such as Brazil, Australia, India and the Gulf states if uncertainties persist. The company had 8.5GW under construction across more than 100 projects under renewables and BESS at the end of March 2025. Engie reported a 0.5% increase in earnings before interest and tax (EBIT) to €3.7bn ($4.14bn), excluding nuclear power, in the first quarter of 2025. However, Engie's finance chief cautioned that full-year EBIT might not match the strong performance of the first quarter, which benefited from high gas and power prices and increased winter demand. The company maintains its 2025 forecast for net recurring income of €4.4bn to €5bn. ENGIE North America has teamed up with funds managed by CBRE Investment Management (IM) on a 2.4GW portfolio of battery storage assets in the US states of Texas and California. ENGIE will retain a controlling share and continue to operate and manage the portfolio, which comprises 31 projects across territories of the Electric Reliability Council of Texas (ERCOT) and California Independent System Operator (CAISO). ENGIE North America chief renewables officer and senior vice-president Dave Carroll stated: "We are delighted that ENGIE and CBRE IM are partnering in this industry-leading transaction, supporting 2.4GW of storage that will support the growing demand for power in Texas and California. 'The scale of this portfolio reflects ENGIE's commitments to meeting the energy needs of the US and increasing the resilience of the ERCOT and CAISO grids." In early May 2025, NHOA Energy, together with ENGIE, commenced construction of a 400 megawatt-hour (MWh) BESS in Kallo, Beveren, Belgium. "Engie slows US renewable energy projects amid tariff uncertainties" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
13-05-2025
- Business
- Yahoo
ENGIE teams up with Cipher Mining to power Texas data center
HOUSTON, May 13, 2025 /PRNewswire/ -- ENGIE North America (ENGIE) announced it has entered into a preliminary agreement with Cipher Mining Inc. (NASDAQ:CIFR) ("Cipher") to enter into a power supply agreement to power a Cipher data center in Texas. Once executed, the agreement would allow Cipher to purchase up to 300 megawatts (MW) of clean energy from one of ENGIE's wind facilities. The new arrangement would leverage the wind project's renewable energy generation to power the co-located data center, helping to alleviate an already congested transmission area. This helps offset basis risk and mitigate curtailment challenges especially in regions like West Texas, where wind and solar resources are abundant but often face constraints due to transmission bottlenecks and curtailment. By pairing the data center with renewable energy, this strategic collaboration supports the use of surplus energy during periods of excess generation, while enhancing grid stability and reliability. "ENGIE is committed to pursuing innovative solutions that maximize the value of renewable generation and improving cost effectiveness of delivering clean energy supply to our customers," said David Carroll, Chief Renewables Officer & SVP, ENGIE North America. "We are focused on meeting the growing need for power by our customers as they expand their operations in the U.S. and renewables is an essential part of supplying this increasing demand." This agreement continues to reflect ENGIE's position as one of the leading providers of power purchase agreements globally. About ENGIE North AmericaBased in Houston, Texas, ENGIE North America Inc. is a regional hub of ENGIE, a major player in the energy transition, whose purpose is to accelerate the transition towards a carbon-neutral economy. With 98,000 employees in 30 countries, the Group covers the entire energy value chain, from production to infrastructures and sales. ENGIE combines complementary activities: renewable electricity and green gas production, flexibility assets (notably batteries), gas and electricity transmission and distribution networks, local energy infrastructures (heating and cooling networks) and the supply of energy to local authorities and businesses. Every year, ENGIE invests more than €10 billion to drive forward the energy transition and achieve its net zero carbon goal by 2045. ENGIE (ENGI), is listed on the Paris and Brussels Stock Exchanges. For more information on ENGIE in North America, please visit our website at or our LinkedIn page at Contact:ENGIE North AmericaMichael Clingan, External View original content to download multimedia: SOURCE Engie North America Inc.
