Tag Archive for: Finance

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2025 First Quarter Results

Business highlights

  • Robust activity in Renewables & BESS, with 8.5 GW under construction across more than 100 projects at the end of March 2025
  • Acquisition of two hydropower plants in Brazil (612 MW) and a portfolio of Renewable assets in the United Kingdom (157 MW)
  • Award of a new electric substation in Chile
  • Closing of the nuclear transaction in Belgium

Financial performance

  • EBIT excluding nuclear at €3.7bn, an organic increase of 2.1%, mainly driven by Infrastructures and favorable timing effect
  • Cash Flow From Operations1 at €4.0bn in Q1 2025
  • Maintaining a solid balance sheet with an economic net debt/EBITDA ratio down to 3.0x
  • Economic net debt reduced by €1.8bn
  • FY 2025 guidance confirmed with NRIgs2 expected in a range of €4.4-5.0bn

 

For more information on the Q1 Results visit our global page >> https://www.engie.com/en/news/2025-first-quarter-results

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ENGIE enters partnership with CBRE Investment Management for 2.4 GW portfolio of Battery Storage Assets in the U.S.

HOUSTON, May 15, 2025 /PRNewswire/ — ENGIE North America (ENGIE) announced that it has entered into a partnership with funds managed by CBRE Investment Management (CBRE IM) on a portfolio of battery storage assets in Texas and California.

This transaction is one of ENGIE’s largest operating portfolio partnerships in the U.S. and one of the sector’s largest sales completed to date. ENGIE will retain a controlling share in the portfolio and will continue to operate and manage the assets.

The 2.4 GW portfolio consists of 31 projects in operation in Electric Reliability Council of Texas (ERCOT) and California Independent System Operator (CAISO) territories.

“We are delighted that ENGIE and CBRE IM are partnering in this industry-leading transaction, supporting 2.4 GW 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 U.S. and increasing the resilience of the ERCOT and CAISO grids,” said Dave Carroll, Chief Renewables Officer and SVP, ENGIE North America. “CBRE IM’s investment reflects their confidence in ENGIE’s proven track record in developing, building, operating and financing renewable assets, both in North America and globally.”

ENGIE is a leader in meeting growing energy needs in North America where it currently has more than 11 GW of renewable production and battery storage in operation or construction. This transaction supports ENGIE’s strategy in North America by simultaneously recycling capital and adding a leading, globally recognized investor to ENGIE’s select pool of partners. The size of this portfolio focused on battery storage assets reflects ENGIE’s global aspirations to grow in this space.

“We are excited to partner with ENGIE on this high-quality, scaled battery storage portfolio with a strong operating track record,” said Robert Shaw, Managing Director, Private Infrastructure Strategies at CBRE Investment Management. “This investment reflects our proven strategy of investing in infrastructure 2.0 assets that leverage the breadth of the CBRE IM platform and benefit from strong contracted revenue and macro digitalization and decarbonization tailwinds.”

 

About ENGIE North America

Based 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 www.engie-na.com or our LinkedIn.

About CBRE Investment Management

CBRE Investment Management is a leading global real assets investment management firm with $149.1 billion in assets under management* as of March 31, 2025, operating in 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.

CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.

*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.

 

Contacts:

ENGIE North America
Michael Clingan, External and Press Relations
Michael.clingan@external.engie.com
C +1 832-745-6057

CBRE IM
Josh Stoffregen-Foye
Head of Media Relations
CBRE Investment Management
200 Park Avenue | Suite 2001 | NY, NY 10166
C +1 347-882-0148
josh.stoffregenfoye@cbreim.com | LinkedIn

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ENGIE announces $1bn Tax Equity Financing for more than 1.3 GW of U.S. Renewables Assets

Largest Financing to Date Supports Acceleration of Renewables and Continued Expansion for ENGIE in the U.S.

HOUSTON – ENGIE North America (ENGIE) announced that it recently completed more than $1bn of Tax Equity financing, through separate agreements with three banks, J.P. Morgan, Goldman Sachs and BNP Paribas. The financing pertains to a portfolio of recently commissioned renewable projects in the U.S.
The overall portfolio consists of 6 projects across ERCOT, MISO and SPP, including 950 MW of solar and 353 MW of wind capacity. The aggregate 1.3 GW of these renewable projects represents one of the largest Tax Equity financing arrangements for ENGIE North America so far.

“We are delighted that ENGIE is once again able to collaborate with some of the world’s leading financial institutions to accelerate the energy transition towards a net zero future,” said Dave Carroll, Chief Renewables Officer and SVP, ENGIE North America. “This transaction reflects our proven and recognized track record in developing, building and operating renewables assets, both in North America and globally”.

ENGIE is a leader in the net zero energy transition and currently has more than 7 GW of renewable production in operation or construction across the U.S. and Canada.
“ENGIE can rely on its strong relationships with leading financial investors to support its continued acceleration of renewable growth in the U.S.,” said Audrey Robat, Chief Financial Officer, ENGIE North America. “This deal also highlights the outstanding level of commitment and expertise of our teams in delivering reliable and affordable renewable generation to the grid.”

Globally ENGIE has an aspiration to add 4 GW per year globally through 2025, with North America as a material contributor to that growth.

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About ENGIE North America
Based in Houston, Texas, ENGIE North America Inc. is a regional hub of ENGIE, a global leader in low-carbon energy and services. ENGIE (ENGI), is listed on the Paris and Brussels Stock Exchanges. Together with our 96,000 employees around the globe, our customers, partners and stakeholders, we are committed to accelerate the transition toward a carbon-neutral world, through reduced energy consumption and more environmentally friendly solutions. Inspired by our purpose (“raison d’être”), we reconcile economic performance with a positive impact on people and the planet, building on our key businesses (gas, renewable energy, services) to offer competitive solutions to our customers. In North America, ENGIE helps our clients achieve their energy efficiency, reliability, and
ultimately, their sustainability goals, as we work together to shape a sustainable future. We accomplish this through: energy efficiency projects, providing energy supply (including renewables and natural gas), and the development, construction and operation of renewable energy assets (wind, solar, storage and more). For more information on ENGIE North America, please visit our LinkedIn page or Twitter feed, https://www.engie-na.com/ and https://www.engie.com.
Contacts:

ENGIE North America
Michael Clingan, External Relations
Michael.clingan@external.engie.com
832-745-6057

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ENGIE H1 2023 Results

Business Highlights

  • Fundamental de-risking of nuclear exposure through agreement on all waste liabilities and extension of Doel 4 and Tihange 3
  • Expected acceleration in Renewables with 6.6 GW under construction at the end of June
  • Reinforcement of ENGIE’s renewables platform in South Africa following the acquisition of BTE Renewables and full consolidation of Kathu
  • Commissioning of ENGIE’s largest battery energy storage system Hazelwood in Australia
  • Awarded a 30-year concession of 1,000 km of power lines in Brazil
  • 100% renewable power generation in Brazil after Pampa Sul coal plant disposal

Financial Performance

  • EBIT of €6.7bn excluding Nuclear, up 53% organically, driven mainly by GEMS and Renewables
  • Strong growth in CFFO1 driven by EBITDA growth and improvement in Working Capital Requirements
  • Impact of Belgian nuclear transaction integrated in financial results at 30 June
  • Solid balance sheet and improving economic net debt to EBITDA ratio at 2.7x, including impact of the agreement on nuclear liabilities
  • Net financial debt decreasing to €23.0bn, down €1.1bn, economic net debt increasing to €41.4bn
  • FY 2023 guidance confirmed, with NRIgs2 expected in the range of €4.7-5.3bn

 

Catherine MacGregor, CEO, said: “In the first semester, ENGIE has achieved a very strong financial performance, driven by the development of our renewable activities and the results of our energy management activities in a context still characterized by high price volatility. We have signed an agreement with the Belgian government significantly reducing the risks on the overall amount linked to the management of nuclear waste and providing the necessary visibility on the 10-year extension of the two units Doel 4 and Tihange 3. ENGIE has also made significant progress across all GBUs, including the acquisition of BTE Renewables in South Africa, the commissioning of BESS Hazelwood in Australia, and the success on the tender of 1,000 km power transmission lines in Brazil. In line with our strategic plan, we keep improving our business profile while leveraging our growth platforms. We are confident in the strength of our integrated model to meet the challenges of the energy transition both in the short and long-term.”

 

For full details, visit our report here

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