ENGIE steps up its sustainable growth
High renewables ambitions to support energy transition
Four countries to become Net Zero Carbon by 2030
- Refocused and streamlined, ENGIE is moving to the second stage of its strategic plan, stepping up growth in energy transition
- €22-25bn growth Capex in 2023-2025, up 50% compared to 2021-2023 with a disciplined capital allocation
- Confirmation of renewables targets driven by a solid and diversified pipeline of 80 GW
- Annual growth of 4 GW in 2022-25 and 6 GW in 2026-30
- 50 GW installed capacity in 2025 and 80 GW in 2030
- Focusing the growth of distributed infrastructure to support the decarbonisation of clients
- 8 GW of additional distributed energy infrastructure by 2025 vs. 2020
- Ramping up in flexible capacities and renewable gases with ambitious targets in 2030
- c.10 GW of battery capacity
- c.10 TWh biomethane production per year
- c. 4 GW hydrogen production capacity
- Guidance: NRIgs to grow throughout 2023-25, to reach €3.4-4.0bn in 2023 and €4.1-4.7bn in 2025
- Dividend policy reiterated: pay-out ratio 65-75% of NRIgs with annual floor of €0.65
- Four Net Zero countries in 2030, a first milestone to Net Zero Carbon by 2045 on all scopes
Catherine MacGregor, CEO, said: “Over the last two years, ENGIE has carried out a major strategic refocus and strengthened its industrial base. Backed up by a strong financial structure, we now move to the second stage of our strategic plan. We are stepping up our growth investments by a sizeable 50% for the 2023-2025 period, targeting ambitious expansion in renewables, both power and gas, and decarbonization solutions with a selective approach to foster significant value creation for the benefit of our shareholders and all our stakeholders. We believe in a balanced mix, at the heart of which gas plays and will continue to play a key role in providing flexibility to the system, demonstrating the relevance of ENGIE’s integrated business model. ENGIE teams are fully engaged in implementing our strategy, moving forward to our target of Net Zero carbon by 2045, and in four countries as soon as 2030”.
Jean-Pierre Clamadieu, Chairman of the Board of Directors, added: “The Board approved the plan presented by Catherine MacGregor and her team. The climate emergency, the energy crisis and the geopolitical situation leave no choice but to accelerate the transition to a low-carbon economy, which confirms the relevance of the strategy to which ENGIE has been committed since 2020.”
