In line with its strategy to play a key role in the energy transition and its Purpose,  announced in May “to act to accelerate the transition towards a carbon-neutral world, through reduced energy consumption and more environmentally friendly solutions, reconciling economic development with a positive impact on people and the planet”, the ENGIE Group’s Board has announced three strategic orientations for the sustainable growth of the company and its simplification with a view to spearheading the energy transition.

Acceleration of investments in renewables and infrastructure

ENGIE intends to implement a new strategy for allocating capital, focusing on the growth of initiatives directly linked to the energy transition:

– to accelerate the growth in the development of renewable energy, increasing the global plan from an annual expansion of 3 GW to 4 GW.

– to capture opportunities through the development of biogas and hydrogen under the European Green Recovery Plan.

– to accelerate the growth in decentralized infrastructure assets such as urban heating and cooling networks and onsite power generation.

Strategic review of part of the Solutions business

Offering innovative low-carbon solutions, ENGIE has established itself as a leader in the energy transition and developed a broad portfolio of activities.

The Board has decided to conduct a review of the Solutions activities to maximize their value, reinforce their leadership position and to seize future growth opportunities through a coherent perimeter and adapted organization.

Significant enhancement of the divestment program to fund future growth in renewable energy and infrastructure assets

The      Group will consider opportunities to divest non-core businesses and minority stakes in order to increase financial flexibility to fund investments in renewables and infrastructure assets.

Overall, this could lead the ENGIE Group to potentially double its previously announced divestment program of approximately 4 billion euros over the medium term.

A comment from ENGIE Brasil’s CEO, Mauricio Bähr

“Brazil is a country which is key to the global success of ENGIE and the Group has given us the conditions to grow in a solid, consistent and sustainable way in renewables and infrastructure. Sufficient is to see the investments recently made in the acquisition of TAG and in the construction of wind power complexes and transmission lines. As for Solutions, we had already been restructuring this area of business in Brazil to focus on the activities which the Group sees as most relevant to the energy transition whether in relation to companies or entire territories.”