S'abonner

Engie achieves record performance in renewables in 2024 and revises its forecasts for 2025

In 2024, Engie reached a record performance in the renewable energy sector, adding 4.2 GW of new capacity and raising its total to 46 GW. The group also raised its financial forecasts for 2025.

Share:

In 2024, Engie recorded outstanding performance in the renewable energy sector, adding 4.2 gigawatts (GW) of new capacity, bringing its total installed capacity to 46 GW. This growth was supported by favourable hydrological conditions in France and Portugal, as well as the commissioning of new facilities in the United States, Latin America, and Europe.

Financial and operational results

Engie’s operating result (EBIT) excluding nuclear reached €8.9 billion in 2024, a decline of 5.6% from €9.5 billion in 2023. This drop was mainly due to lower gas prices, the impact of an energy tax in France, and a reduction in the use of gas-fired power plants in Europe.

At the same time, the renewable energy sector made a positive contribution, with an EBIT of €2.2 billion, up 7.3% compared to the previous year. This performance was attributed to increased production from hydroelectric, wind, and solar sources.

Revised forecasts for 2025

With these results in hand, Engie has raised its forecasts for 2025. The group now expects EBIT excluding nuclear to be between €8 billion and €9 billion, compared to a previous estimate of €7.9 billion to €8.9 billion. In addition, the recurring net profit is expected to be between €4.4 billion and €5 billion, surpassing the previous range of €3.9 billion to €4.5 billion.

Development of battery storage

Engie has also accelerated its development in the field of battery storage, with over 5 GW in operation and under construction at the end of 2024. This expansion reflects the group’s commitment to strengthening its presence in energy storage solutions to support the energy transition.

  • Populaires ​
MN8 Energy raises $575mn with Natixis CIB to strengthen its US solar debt
Carbon2Nature and Uría Menéndez launch reforestation of 90 hectares in Salamanca
TNB, Petronas and Terengganu Inc launch green hydrogen hub and hybrid solar in Malaysia
Occidental Petroleum reduces production in the Gulf of Mexico in the second quarter
Azule Energy announces major offshore gas discovery in the Angolan Congo Basin
wpd completes the acquisition of Calycé’s wind activity and strengthens its presence in France
German group wpd takes over the teams and a portfolio of 17 wind projects from Calycé, consolidating its position in the French market and expanding its regional presence, particularly in the Grand Est, with the support of Envinergy.
SPIE wins new strategic contract for the 315 MW Windanker offshore wind farm
SPIE Wind Connect partners with Van Oord to connect and test 21 high-voltage cables for the Windanker offshore wind farm, marking a key milestone in the development of Germany’s offshore wind sector.
Envision Energy and FERA Australia launch major hybrid wind and storage project
Envision Energy and FERA Australia announce an agreement to develop up to 1 GW of wind and 1.5 GWh of storage on the Australian market, laying the foundation for a new hybrid power plant model.
RWE reaches key milestone with foundation installation at Sofia offshore wind farm
German group RWE has completed installation of all 100 monopile foundations at Sofia, a 1.4 GW offshore wind farm located 195 kilometres from the British coast, marking a major step in the construction of the project.
Greece’s wind capacity surpasses 5.5 GW as growth rate doubles
Greece’s wind sector reaches a new milestone with 5.5 GW installed, driven by 37 new turbines and €180 mn in investments during the first half of 2025, according to ELETAEN.
Nomura Real Estate signs wind power purchase agreement with wpd in Japan
Nomura Real Estate has signed a power purchase agreement for its new Tokyo headquarters with wpd and GPSS Group, supplying the Higashi Izu Furusato wind project with a capacity of 7.48 MW.
Energiequelle raises Raßlitz wind farm capacity to 11 MW after upgrade
Energiequelle completes the commissioning of two Enercon E-160 turbines in Raßlitz, replacing previous models and increasing the installed capacity of the Saxony site more than fivefold.
Ørsted secures $2.75bn for Greater Changhua 2 from 25 banks and 5 export agencies
Ørsted has completed a $2.75bn project financing with 25 banks and five export credit agencies for the 632 MW Greater Changhua 2 offshore wind farm in Taiwan, strengthening its industrial partnership strategy. —
Masdar and Iberdrola invest €5.2bn in UK offshore wind
Masdar and Iberdrola announce a joint investment of €5.2 billion in the East Anglia THREE offshore wind farm in the United Kingdom and full commissioning of the German Baltic Eagle project (476 MW).
Energiekontor wins contracts for four wind projects totaling 125 megawatts
Energiekontor AG has secured contracts for four wind projects with a total capacity of 125 megawatts, following the Federal Network Agency's May 2025 tender in Germany.
Ecopetrol acquires Wind Autogeneración and restarts Windpeshi wind project
Ecopetrol S.A. finalises the acquisition of Wind Autogeneración from Enel S.A.S., thereby taking over the Windpeshi wind project in Colombia, with a planned capacity of 205 MW, aimed at the Colombian oil group's energy self-consumption.
Oceanic Wind and Coast Tsimshian secure permit for Canadian offshore wind
Oceanic Wind Energy Inc. and Coast Tsimshian Enterprises Ltd. secured an exclusive investigative use permit in the Hecate Strait, paving the way for Canada's first major offshore wind project, targeting capacity of up to 700 MW.
Nordex wins 91 MW contract from SAB WindTeam in Germany
German manufacturer Nordex will supply 13 N163/6.X wind turbines to developer SAB WindTeam for a 91 MW wind farm in Brandenburg, with commissioning scheduled for early 2027 and an extended 20-year service agreement.
EDF postpones Calvados wind farm to 2027 due to faulty drilling tool
EDF is delaying the start-up of the Calvados offshore wind farm by more than two years, citing extended adjustments to a drilling tool vital for installing the sixty-four monopile foundations off Courseulles-sur-Mer.
NeXtWind secures €1.4 billion to expand wind energy in Germany
German company NeXtWind signs historic €1.4 billion debt financing to accelerate expansion and modernisation of its onshore wind farms and reach a total capacity of 3 GW by 2028.
TGS wins strategic offshore wind contract in Norway
Energy company TGS has won a major high-resolution geophysical imaging contract for offshore wind site characterization in Norway, strengthening its position in this rapidly growing market.
Iberdrola launches metocean studies for Australian offshore wind farm
Iberdrola Australia secures crucial approval from Australian authorities to begin metocean studies for its 3GW Aurora Green offshore project off the coast of Victoria, marking a decisive stage in its development.
ENGIE launches largest wind farm in Africa and Middle East in Egypt
ENGIE begins full operation of the Red Sea Wind Energy wind farm in Egypt, increasing its capacity to 650 MW, four months ahead of schedule, now powering over one million homes in the region.
Tokyo Gas acquires two wind projects in Finland via its European subsidiary
Tokyo Gas, through TOWII Renewables, a joint venture with EWII, purchases two onshore wind projects developed by Finnish company Puhuri, totalling 74.4 MW, marking its expansion beyond the Danish market.
Germany allocates €450mn to modernise Lower Saxony’s electricity grid
The European Investment Bank grants EWE AG historic €450mn financing for the installation of 2,600 km of underground power lines and the upgrade of over 1,100 substations in Lower Saxony.

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

© XMARKET PUBLISHING